Jetty, an insurtech aiming to help renters acquire effective insurance products and other financial assistance, is
The company, which launched in late 2016, set out to solve a number of problems associated with renting in big cities. Renter's insurance is a major part of that equation, but increasing costs have made it difficult for many renters to acquire the high up-front move-in costs like security deposits, or find guarantors, that landlords seek. So, in addition to its core protection offering, Jetty created surety bond products to assist in those pain points. Its security deposit and lease-guarantee coverage means the company will partner with the renter to take on those risks.
"But we can't sell those direct-to-consumer," explains Mike Rudoy, one of Jetty's two co-founders. So, the company has had a small sales team dedicated to building relationships with property managers.
The hope for the new site is that more property managers will be able to sign on for those programs and use them as a lure for desirable renters. Jetty will integrate its products with the landlord's workflow to make both the surety products and renter's insurance available as easily as possible.
"Every operator has a bit of a different way of processing a lease, so we've built different types of workflows into the product," Rudoy explains. "For example, if the leasing agent has to get a copy of the renters insurance policy once it's purchased, we have an internally facing website builder where we can toggle that on."
All in all, Rudoy says, the more holistic approach Jetty is taking is line with a larger trend in insurance and insurtech toward a more experience-based approach to product development. Rather than having renter's insurance exist in a silo apart from all the other concerns tenants face, Jetty hopes that digital can help it power a new kind of experience for its target market.
"We're an insurance provider for renters, but we're also a solutions company to help renters do the job they need done," he says. "If you take that approach, you ultimately will find yourself working with other constituents along the way."
