The homeowners' market is transforming before the insuranceindustry's eyes. While homes will always be in demand, more peopleare turning to rental units. 

The appeal of renting goes beyond millennials and collegegraduates. Many soon-to-be retirees may rent to save money on thecost-of-living and avoid many of the risks that come with being ahomeowner

While rental demand experienced an uptick, a vacuum formedthroughout the insurance industry: traditional insurance wasn'tsufficient to meet the needs of renters. Companies like Lemonade andJetty emergedand disrupted the industry with their services; aside frominsurance designed with renters in mind, their digital platformoffers coverage without the hassle of an agent or paperwork — agrowing expectation amongst customers across theboard. 

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].