Janover, an AI-enabled platform for commercial real estate transactions, has announced the launch of Janover Insurance, its new insurtech subsidiary for commercial property insurance and more.
Blake Janover, Chairman, and CEO of Janover Inc., stated: “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.
“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.”
With the launch of an insurtech of commercial Janover is also enhancing its revenue mix through the introduction of sticky recurring revenue, the CEO explains.
Janover said: “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.”
Janover recently announced it has been granted insurance licenses in Texas and Florida, and has multiple applications in progress in several other states.
The company has also hired two senior industry executives with proven track records and extensive expertise in the insurance sector to advise Janover Insurance, as well as a full-time manager 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,” Janover continued.
Concluding: “With over 100 million impressions annually on Google and a strong, replicable content strategy, we are committed to embedding insurance into our digital ecosystem.”
