U.S. Senator Elizabeth Warren, Ranking Member of the Senate Committee on Banking, Housing and Urban Affairs, sent a letter to Neptune Flood raising questions about the company’s private flood insurance business model, including its reliance on artificial intelligence for underwriting and pricing as flood insurance costs rise. The letter cites reporting that Neptune pitched the White House and the U.S. Department of the Treasury on a proposal for the National Flood Insurance Program (NFIP) to stop issuing new policies, with industry experts warning that such cutbacks could leave communities more exposed to flood damage. Warren also points to Neptune’s Securities and Exchange Commission filings describing it as a managing general agent selling policies on behalf of insurance companies acting as capacity providers, and argues that its in-house AI underwriting platform, Triton, raises concerns about transparency, premium setting, and whether consumers can understand or challenge the premiums they are charged. The letter frames these concerns against NFIP’s role as the primary flood insurance provider over the past 50 years and states that Neptune’s positioning echoes Project 2025’s call to end NFIP. Warren requested responses to her questions by March 3, 2026.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-02-18
U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member Elizabeth Warren questions Neptune Flood’s AI-driven business model and NFIP cutback proposal
Senator Elizabeth Warren has raised concerns about Neptune Flood's private insurance model, particularly its AI use for underwriting and pricing. In a letter, Warren questions Neptune's proposal to halt new policies under the National Flood Insurance Program (NFIP) and highlights transparency and consumer understanding issues related to its AI platform, Triton. The letter also notes Neptune's role as a managing general agent and its alignment with Project 2025's call to end NFIP.