Surety Company Ditches Brokerage Model, Goes Direct

News provided by

Mar 29, 2022, 09:00 ET

CHARLOTTE, N.C., March 29, 2022 /PRNewswire/ -- Jet Insurance Company is dedicated to saving clients time and money. Because commission to brokers is undoubtedly the biggest expense in surety, Jet will start by cutting out the middlemen with its new technology to sell surety bonds directly to those that need them.

Brokers and agents have dominated the surety market for over a century, acting as middlemen between the bond principal and the surety carrier. The presence of a third party requires additional system coordination, inhibits innovative offerings, causes delays, and opens another mouth to feed—all of which increases costs. Jet was created by the founders of the top-performing surety brokerages in the country precisely because they were frustrated by the limitations of the old model.

Jet Insurance Company understands the key pain points associated with bonding, leading the company to replace brokers with cutting-edge, intuitive technology. Jet delivers bond principals a custom application that improves the user experience by abandoning the industry's "one size fits all" approach to surety underwriting. With over 10,000 surety bond requirements across the country, this is no small feat.

Per Chief Marketing Officer Joseph Pappalardo, "Our massive investment in researching every bond ensures Jet is able to deliver a process that is geared to the specific surety needs of our customer, allowing bonds to be issued quickly—often instantly".

About Jet Insurance Company

Jet is an insurance company headquartered in Charlotte, North Carolina. Licensed in the District of Columbia and 31 states, Jet is in the process of obtaining authorization to write surety and fidelity products in all 50 states. For more information, email [email protected] or visit https://jetsurety.com.

SOURCE Jet Insurance Company