LeaseLock, which helps renters access monthly insurance cover, has formed a strategic partnership with QBE North America.
The agreement will enable the InsurTech to offer US clients rent loss and damage protection to apartment communities, as well as creating more affordable leasing for renters.
LeaseLock offers a risk platform that enables multifamily communities to eliminate deposits and market themselves as Zero Deposit while keeping seamless experience within enterprise workflows. Renters pay a small monthly deposit waiver fee and the property receives $5,000 of insurance coverage for rent loss and damage.
LeaseLock founder and chief of insurance Reichen Kuhl said, ?We are proud of our new partnership with QBE, who is committed to supporting our leadership position in the $20 billion U.S. deposit replacement category.
?What excites us most is how QBE Alternative Markets business??the alternative distribution arm of QBE North America??is supportive of our continuous innovation process as we refine and scale our first-to-market lease insurance product.p>
The InsurTech raised a $10.1m funding round in 2018.
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