Valar partner Andrew McCormack said in a statement that the firm has a chance to improve “an industry notorious for commodity products and one of the worst customer experiences a person can have.” Jetty, which officially launched in April with $4 million in seed money, sells what it claims is rental insurance tailored to today’s city dwellers: think protection against bed bugs and theft or property damage by Airbnb guests. It also offers to act as a guarantor on an apartment lease in return for 5 to 10 percent of the annual rent and takes care of the security deposit in exchange for an 18 percent fee. The German reinsurance giant Munich Re underwrites Jetty’s policies.

https://therealdeal.com/2017/08/08/peter-thiels-fund-just-invested-in-this-nyc-rental-insurance-startup/