Jetty, a NYC-based insurtech startup, has launched in multiple states and disclosed a $4m seed funding raised to date.
Backers included Ribbit Capital, Box Group, Social Capital, SV Angel, Red Swan, MetaProp NYC and Solon Mack Capital.
Founded in 2016 by Michael Rudoy (CEO) and Luke Cohler (President / Chairman), Jetty provides consumers with a suite of insurance products and services to protect apartments and their belongings, once they’re in.
Starting plans provide base coverage features such as:
– protection for members’ personal property and belongings (property coverage);
– reimbursement for injuries to others or damage to their property (liability coverage);
– reimbursement for alternate accommodations (loss of use coverage); and
– reimbursement for medical expenses incurred by others (medical payments coverage).
Jetty Power-Ups allow members to enhance their standard insurance plans with additional features to protect valuable and high-ticket items. Power-Ups categories include jewelry, designer handbags and shoes, personal electronics (smartphones, laptops, tablets), music and audio gear, wine collections, artwork, bicycles, and more.
To remove the additional obstacles tenants face when meeting a landlord’s requirements — such as posting a security deposit or finding a lease guarantor — the company is introducing Jetty Passport, a pair of novel renter-specific services that includes Passport Deposit (a security deposit replacement service) and Passport Lease (a lease guaranty replacement service).
In addition, Jetty offers a suite of membership benefits to provide discounts and promotions on services such as food and beverage, housewares, home services. Partnerships at launch include Thrive Market, Laurel & Wolf, Winc, and more, with others added regularly.
The entire experience, from initial sign-up and filing claims, to protecting valuables and personal electronics, is completed online at Jetty.com.
Jetty’s insurance plans are now available in Pennsylvania, Illinois, and Georgia; Jetty Passport is now available in Pennsylvania, Illinois, Georgia, New Jersey, and Florida, with plans for expansion for all offerings throughout the year.
The company’s team also includes CTO Davin Chew (formerly CTO at Squarespace) and Chief Insurance Officer Braden Davis (formerly Head of Strategy at QBE North America and Engagement Manager at McKinsey & Company).