The Flood Insurance Agency

What The Flood Insurance Agency does

The Flood Insurance Agency (TFIA), founded in October 2013 and headquartered in Gainesville, Florida, is a privately held Managing General Agency-style distributor that sells private flood insurance as an alternative to the federal NFIP. Its flagship product, the Private Market Flood policy, is underwritten by Lexington Insurance Company (an AIG company) and is offered to residential (1–4 unit), habitational (5+ unit), and commercial property owners across 41 states plus D.C., with maximum building coverage of $500,000 and contents coverage of $250,000 (residential) or $500,000 (commercial). The company differentiates through a portfolio of proprietary endorsements: FloodFLEX (supplemental loss payment of 5–100% of building loss), FloodReady (FEMA-approved flood-resistant material coverage up to $10,000 per event), Rate-Lock and Multi-Year Policy Terms (2–3 year premium guarantees), and Excess Flood insurance above standard limits.

TFIA operates a proprietary online platform (privatemarketflood.com) that delivers instant premium estimates without elevation certificates, e-signature application submission, electronic bank-withdrawal payment via e-Bill Express, and online policy management. The company distributes through three coordinated motions: (i) a network of over 3,000 independent insurance agents with same-day onboarding, (ii) a direct-to-consumer self-serve website that converts quote-to-policy on the same day, and (iii) an inside sales/service team handling applications, endorsements and claims. Reported cumulative scale includes over $100 million of written premiums since 2013, over $4 billion of coverage in force, and over 20,000 policies consolidated with Lexington/AIG.

The revenue model is recurring, commission-and-premium-based: TFIA collects annual or multi-year premiums on subscription-style flood policies and earns on each policy plus optional endorsements such as FloodReady ($35–$50/yr). Customer segments split between individual/SMB residential property owners, enterprise-level mortgage lenders requiring evidence of coverage, and the agent channel that functions as a B2B2C distribution layer. Notable service metrics cited are over 95% of agents rating service above average and over 96% claim-experience satisfaction among policyholders with flood losses.

Name

The Flood Insurance Agency

Legal name

The Flood Insurance Agency

Website

https://privatemarketflood.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

The Flood Insurance Agency distributes private flood insurance through a network of 3,000+ independent agents and a direct-to-consumer website, offering FEMA-NFIP alternatives and proprietary endorsements (FloodFLEX, FloodReady, Rate-Lock) underwritten by Lexington/AIG across 41 U.S. states.

Ownership category

akta.pro rank

Product category

Flood Insurance

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Flood Insurance (FSAJACAG)

akta.pro secondary industry

Homeowners Insurance (FSAJACAA)

Keywords

• Private flood insurance
• Residential flood coverage
• Commercial flood insurance
• Excess flood insurance
• Flood policy endorsements

Headquarters

HQ city

Gainesville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D, Others

Revenue model

1. Private Market Flood Insurance Premiums: The company collects insurance premiums from policyholders for flood insurance coverage on residential, habitational, and commercial properties. Premiums are paid annually, or in lump sums for multi-year policies. The company has written over $100,000,000 in private flood insurance premiums since October 2013.
2. FloodFLEX Endorsement Premium: Additional premium charged for the FloodFLEX endorsement, which provides supplemental loss payments equal to a percentage (5%, 10%, 25%, 50%, or 100%) of the building loss amount.
3. FloodReady Endorsement Premium: Annual endorsement premium of $35 per year for residences with replacement cost of $250,000 or less, and $50 per year for residences with replacement cost over $250,000.
4. Excess Flood Insurance Premiums: Excess flood insurance policies allow policyholders to cover building values exceeding the maximum available limits ($250,000) of standard NFIP or Private Market Flood policies. Can be purchased as primary or excess coverage.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

The Flood Insurance Agency, operating as Private Market Flood, sells private flood insurance policies for residential, habitational, and commercial properties as an alternative to FEMA's NFIP. Policies are underwritten by Lexington Insurance Company (AIG) and distributed through a network of 3,000+ independent agents and a direct online platform, with optional endorsements like FloodFLEX, FloodReady, Rate-Lock, and multi-year terms.

Product overview

The Flood Insurance Agency operates a single unified product platform called Private Market Flood, which provides private flood insurance as an alternative to FEMA's NFIP. The core offering is the Private Market Flood Policy, underwritten by Lexington Insurance Company (AIG), offering the same coverage as FEMA policies with no documentation requirements and lower rates. The portfolio includes several add-on endorsements: FloodFLEX provides supplemental loss payments (5-100% of building loss) for out-of-pocket expenses; FloodReady covers flood damage-resistant material upgrades ($35-$50/year); and Rate-Lock and Multi-Year Policy Terms offer premium stability options. Coverage limits reach $500,000 for buildings and $250,000 for contents on residential properties. The company also offers excess flood insurance for high-value properties.

Differentiator

Problem solved

Functional benefit

Brands

• FloodFLEX: An endorsement providing additional supplemental loss payment based on a percentage (5%, 10%, 25%, 50%, or 100%) of the building loss amount on a standard flood policy.
• Rate-Lock
• Multi-Year Policy Terms
• FloodReady

Products and services

• Private Market Flood Policy Primary private flood insurance policy providing residential, habitational, and commercial property coverage as an alternative to FEMA NFIP policies. Underwritten by Lexington Insurance Company (AIG). Offers up to $500,000 building and $250,000 contents coverage on residential, and $500,000/$500,000 on commercial, with no elevation certificate required.
• FloodFLEX Endorsement Supplemental loss payment endorsement to a standard flood policy providing additional payment equal to 5%, 10%, 25%, 50%, or 100% of the building loss amount. The supplemental payment is paid directly to the insured with no restrictions on use, applicable to deductible buyback, depreciation recovery, or uncovered items.
• FloodReady Endorsement Flood resiliency endorsement covering the increased cost to replace damaged finish materials (floors, walls, ceilings) with FEMA-approved flood damage-resistant materials, up to $10,000 per event. Priced at $35/year for residences with replacement cost ≤$250,000 and $50/year for those above $250,000.
• Rate-Lock Premium guarantee endorsement allowing policyholders to pay the same rate for two years (one-year rate-lock) or three years (two-year rate-lock), protecting against future premium increases and guaranteeing a renewal offer. Premium paid annually rather than in a lump sum; policies are assignable to new buyers.
• Multi-Year Policy Terms Pre-paid multi-year policy option guaranteeing no premium increase for two or three years. Premiums are paid in one lump sum to lock in current rates for the term and prevent potential lapse in coverage.
• Excess Flood Insurance Excess flood coverage for properties whose values exceed the $250,000 maximum limits of NFIP or Private Market Flood primary policies. Can be purchased as primary or excess coverage alongside either an NFIP or Private Market Flood primary policy.

Quantifiable outcome

• Over 95% of agents rate TFIA service above average
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Lexington Insurance Company (AIG)coreStrategic or Co-development Partner · 1 January 2016Lexington Insurance Company, an AIG company, is the underwriter for all Private Market Flood policies. TFIA consolidated all 20,000+ Private Market Flood policies with Lexington/AIG. Lexington provides the insurance capacity and regulatory backing while TFIA handles distribution, customer service, and product innovation including FloodFLEX, FloodReady, Rate-Lock, and Multi-Year Policy features.
• Florida Office of Insurance RegulationminorOthersThe Florida Office of Insurance Regulation recognizes TFIA's Private Market Flood program as an approved private flood insurance writer in Florida.
• New Jersey State Department of Banking and InsuranceminorOthersNew Jersey's regulatory body recognizes TFIA's Private Market Flood as an approved flood insurance option for New Jersey residents.
• Pennsylvania Insurance DepartmentminorOthersPennsylvania Insurance Department lists TFIA's Private Market Flood as an approved private insurer and surplus lines broker option for flood insurance.
• NFIP (National Flood Insurance Program)minorOthersTFIA's Private Market Flood policy provides the same coverage as NFIP policies and utilizes the same FEMA-certified adjusters for claims settlement. The policy is designed as a direct alternative to NFIP coverage with equivalent terms but often lower premiums.
• Independent Insurance Agents and BrokerscoreChannel Partner/ Reseller/ DistributorOver 3,000 independent insurance agents and brokers are registered with TFIA to sell Private Market Flood policies. Agents receive same-day onboarding, access to online quoting tools and underwriting guidelines, and commission-based compensation. Agent testimonials praise the easy registration process and responsive support.
• Vanguard (Claims Handler)minorImplementation/ SI/ Consulting PartnerVanguard handles claims for policy numbers beginning with 23 or 24. Contact: 888-601-3200, [email protected].
• Alacrity Solutions (Claims Handler)minorImplementation/ SI/ Consulting PartnerAlacrity Solutions handles claims for all other policy numbers. Contact: 866-979-9400, [email protected].

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Kin Insurance: Kin is a direct-to-consumer insurtech that has expanded from homeowners into flood and catastrophe-exposed coastal markets. It competes with TFIA for digital-first property owners seeking non-NFIP flood coverage.
• Hippo Insurance: Hippo is a homeowners insurtech that has begun offering flood and specialty endorsements to its policyholders. It is an emerging direct-to-consumer competitor to TFIA's online flood quoting and binding experience.
• Slide Insurance: Slide Insurance is a Florida-focused property insurer expanding into private flood and catastrophe-exposed lines. It overlaps with TFIA in the Florida flood market and represents an emerging private-market alternative in the same geography.

Direct peers

• Neptune Flood: Neptune Flood is a private flood insurance MGA offering direct-to-consumer and agent-distributed flood policies as an alternative to NFIP. It is the most direct head-to-head competitor to TFIA, competing on price, instant quoting, and lack of elevation certificate requirements.
• Palomar Specialty Insurance: Palomar Specialty is an excess and surplus lines insurer with a growing private flood and earthquake franchise. It is a direct competitor in the private flood market, including excess flood coverage that overlaps with TFIA's Excess Flood product.
• Wright National Flood Insurance Company: Wright Flood is a leading Write-Your-Own (WYO) carrier participating in the NFIP and a major private flood alternative provider, with deep agent distribution and a large policyholder book. It competes with TFIA for agent-sold flood business across the U.S.

Others

• Lexington Insurance Company (AIG): Lexington is the underwriter of all of TFIA's Private Market Flood policies and a major AIG specialty carrier. While not a direct competitor to TFIA, Lexington is the structural capacity partner whose terms and appetite directly govern TFIA's ability to write business.

Broad incumbents

• Chubb: Chubb is a large national P&C carrier with high-net-worth flood and excess flood products. It is a broad incumbent in the private flood market with significant scale and agent relationships, particularly in higher-value coastal and luxury properties that overlap with TFIA's excess flood segment.
• Selective Insurance Group: Selective is a mid-Atlantic and Northeast regional P&C carrier offering flood and excess flood through its standard agent network. It overlaps with TFIA on agent-distributed flood products in higher-value coastal and Northeast states.
• Assurant / AssurantFlood: Assurant is a major WYO NFIP participant and broader specialty insurer, including through AssurantFlood. It is a large incumbent in agent-distributed flood insurance and competes with TFIA for lender-driven and property-owner-driven flood placements.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutu.be/KuNVy2H9K7o

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Flood Insurance Agency