LeFrak, a property developer, has participated in InsurTech Jetty’s Series A round of funding to enable it to cross-sell Jetty’s products across its multi-family buildings. Jetty is a NY-based InsurTech company focusing on rental and accommodation markets. It specialises in marketing, distributing and selling renters insurance and financial products related to young millennials in a seamless way. It offers online renter insurance in 43 US states and wants to have nationwide digitally-native insurance coverage.
Before Jetty, renters had limited access to tailored financial services when renting or buying a new home. With Jetty’s Security Deposit, Renters Insurance and Lease Guaranty, it is now easier and more affordable for young renters and for property owners and managers to integrate quick solutions for potential residents.
How it works
The renter is asked to enter his address and email ID to get the quote.
2. Quotes are generated in three different categories:
Jetty then checks for ‘Basic Plan’ enrolment, which can be customised with several built-in protections and ‘Plan Power-Up’ options. The members also have their own set of benefits like discounts and deals on services for the home from companies including Airbnb, Thrive, etc.
Once a plan is selected, the customer can purchase online.
Ultimately, the dawn of the on-demand economy has caught many insurers by surprise. In the midst of this void, several InsurTechs including Jetty, Quilt and Clover have appeared to pursue the usage-based insurance requirements on third party websites including Uber and Airbnb.
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