Janover launches New Insurtech Subsidiary, Janover Insurance Group

GlobeNewswireMay 3, 20245 min

Janover Inc., an AI-enabled platform for commercial real estate transactions, announced that it has officially launched Janover Insurance Group Inc. (“Janover Insurance”), its new insurtech subsidiary for commercial property insurance and more. The Company also announces it has been granted insurance licenses in Texas and Florida, with multiple applications in progress in several other states.

“Our ability to navigate large complex transactions in a marketplace model, particularly in multifamily and commercial property finance, fits perfectly in the insurance brokerage model,” said Blake Janover, Chairman, and CEO of Janover Inc. “By offering both multifamily and commercial property insurance services, we are able to provide a suite of modern financial services for our clients, adding more value, and reducing frictions and costs in the process. We believe our generative AI applications coupled with our best-in-class customer service and experience will make for very happy customers.”

“From the perspective of our shareholders, we are not only delighting our clients, but we are enhancing our revenue mix through the introduction of sticky recurring revenue and creating another touch point with our valued customers. Commercial insurance represents a high gross margin, recurring revenue business, aligned with Janover’s growth strategy. It is also important to note that as an agent, we do not bear underwriting risk, allowing us to ensure we are providing clients with the best possible product for their needs while maintaining a balance sheet light technology platform. Looking ahead, Janover Insurance anticipates obtaining licenses in additional states, with the ultimate goal of offering national coverage and additional product offerings.”

“To support our growth, we have hired two senior industry executives with proven track records and extensive expertise in the insurance sector to advise Janover Insurance. We have also hired a full-time manager from one of the top firms in the world to run the business. We have also partnered with a leading wholesale brokerage to expand our insurance offerings and provide clients with a diverse range of solutions and are negotiating with two others. In order to maximize outreach and engagement, we are also developing a robust content strategy across all of our platforms, leveraging our extensive online presence to ensure that insurance remains at the forefront of client conversations. With over 100 million impressions annually on Google and a strong, replicable content strategy, we are committed to embedding insurance into our digital ecosystem,” concluded Mr. Janover.

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