Reinsurance News

Farmers Insurance to reinsure policies for fintech Jetty

24th June 2020 - Author: Charlie Wood

Jetty, a fintech company that helps property managers increase lease conversion, reduce bad debt, and streamline operations, has announced a new deal with Farmers Insurance.

handshake-bwUnder the terms of the deal, Toggle Insurance Company, a Farmers Insurance company, will become the exclusive reinsurance provider for all new policies written under Jetty’s core products.

“This is an important and really exciting new collaboration for Jetty, and is a major vote of confidence in the strength of our products and the depth and quality of our real estate distribution channel,” said Mike Rudoy, Co-Founder of Jetty.

“In addition to its brand equity and robust balance sheet, a key factor in our working with Farmers® was our shared vision around innovation and disruption in the financial services space, as evidenced by their startup brand, Toggle®. Working together, we’ll be able to quickly deliver even more value to our real estate partners, as well as to the renters who are the ultimate consumers of our products.”

The companies comprising the Farmers Insurance Group® have an ‘A’ (Excellent) rating from AM Best, a U.S.-based credit rating agency focused on the insurance industry, helping provide Jetty’s real estate partners the confidence to promote Jetty products to renters across the country.

“Jetty is one of the first companies to shake up the outdated deposit alternative insurance market, and they have a truly compelling vision for the future, similar to Farmers and Toggle,” said Stephanie Lloyd, Head of New Ventures for Farmers and President of the Toggle brand.

“We share Jetty’s passion and excitement for the real estate market and renter financial ecosystem, and we believe our existing products and collaborations can help accelerate the overall vision and deliver real mutual value.”

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Ryan Specialty Group to merge with All Risks

Ryan Specialty Group, LLC (RSG) has announced an agreement to merge with independent wholesale insurance brokerage All Risks, Ltd. The...