SiriusPoint Ltd. has announced a strategic partnership with Garentii, a managing general agent for technology. [MGA] We provide digital home rental insurance.
A spokeswoman said: “As part of the partnership, SiriusPoint will provide risk advisory services along with paper and balance sheets. The partnership is built on the growing number of companies in SiriusPoint’s MGA and insurance services portfolio in North America and Bermuda. This is the second partnership outside of business.
“Garentii is a Munich-based insurtech / proptech startup that provides lessors with a flexible alternative to security deposits, while streamlining operations, increasing occupancy and reducing real estate owner management costs. Garentii will offer the lessor a monthly fee insurance policy starting at € 3 instead of the three months’ rent as a security deposit.
“The company aims to quickly expand its offerings, from inter-company models to consumer models, to provide lessees with the ever-increasing flexibility of the changing economic climate.”
“Germany is the largest rental market in Europe,” said Bobby Heerasing, Head of International Strategic Business Development at Sirius Point. “There are 49 million renters in the country, of which 9-10 million move each year, resulting in the containment of approximately € 35 billion in residential cash deposits. Garentii’s fascinating The product has a lot of room for growth not only in Germany but also in other European countries. “
“Paying a cash deposit is one of the most inefficient use of capital for the lessor and the burden of the manager for the landlord. Garentii has built a built-in insurance solution that brings value to both parties.” Said Michael Hazoume, Co-founder and Chief Executive Officer of Garentii. “With the help of SiriusPoint, which seeks and supports entrepreneurship, it is a great asset for us. We look forward to moving fast in the European real estate market and building dynamic insurance products.”
“We are very pleased to partner with Garentii to add a second MGA to our international portfolio,” said Patrick Charles, Global Head of Non-life Insurance. [P&C] SiriusPoint insurance and services. “There are several fascinating opportunities in the international market. By working with partners like Garentii, who are addressing the coverage gap and innovating in the insurance sector, we can influence and partner with the market. We believe that end users and businesses can benefit at the same time. “
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