Secure and a bear have come together to offer commercial rental insurance.

Assurely is an insurtech covering innovative new businesses such as online marketplaces. This is Assurely's first foray into the commercial real estate industry.

Otso is a fintech that offers landlords an alternative to traditional cash deposits and letters of credit.

The two Texas-based firms have teamed up to create rental security insurance for the commercial real estate industry. The new insurance should enable landlords to reduce the risks of leasing. The guidelines are supported by Accelerator, a full-service risk exchange that supports the needs of small and medium-sized businesses.

Josh Feinberg, CEO of Otso, said the partnership is a defining moment for his company. "

"We have demonstrated the demand for alternative lease securitization across the country with over $ 12 million in filings this year alone. Landlords and renters across the country use us to improve the rental experience and their asset results. Through the partnership with Assurely and Accelerant, we are increasing the strength of our solutions and at the same time expanding the scope of the securitisations supported; it is a win-win situation. "

You, Sagalov, Co-Founder and Chief Insurance Officer of Assurely (and a founding member of Lemonade), said the commercial real estate industry is changing fast:

"Sure, it was built for precisely such times; here we shine. As Managing General Underwriters of the program, we are excited to be working with Otso, Accelerant and key CRE stakeholders to enable landlords and tenants to thrive in such a changing environment. "

Jeff Radke, CEO of Accelerant, added that it was exciting to see a new specialty insurance ecosystem emerge:

"The insurance policies for commercial real estate lag a long time behind in terms of rent security, much to the detriment of landlords and tenants across the country. That's why we're excited to work with Otso and Assurely to bring innovation to this area and support policies that reduce the risks of leasing. "

In a blog post, Assurely said the partnership was an "everyone wins scenario" and noted that bank accounts had approximately $ 250 billion in commercial real estate lease deposits that are currently "dead money."

"As of today, we are working actively with landlords, tenants and large commercial property investors and are actively writing policies. Of course, we believe there are additional growth opportunities to expand our insurance, data, and risk management partnerships to other hazards, but in the short term, we're excited to partner with Otso, Accelerant, and industry stakeholders to apply for this win -Win-win solution for a large industry that is changing. "

source https://seapointrealtors.com/2021/09/01/insurtech-assurely-partners-with-fintech-otso-to-offer-commercial-lease-insurance/

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