Is Jetty an insurance company?

Technically speaking, Jetty is not an 'insurance company' (or 'insurance carrier') in that—within the insurance industry—that term has a technical definition meaning a regulated, financial institution which holds balance sheet risk. (This stuff gets pretty complicated pretty quickly, but if you want to geek out on it, Investopedia has a great 'handbook' on insurance).

Rather, Jetty is what's known in the industry as a 'Managing General Agent.' The MGA model is an old, longstanding regulatory and operating model within our industry which allows a company to create, market and administer insurance offerings to consumers without being a true 'insurance company' (i.e., financial institution), by partnering with a company that truly is an insurance carrier.

There's a good analogy we like to use when explaining this to our friends. When you get into 'an Uber,' you're not really getting into a car owned by Uber itself; the vehicle might be owned by the driver, or a taxi or livery company. But Uber created the app, marketed to you as a customer, found the driver and processed your payment. It's Uber's product, powered by someone else's vehicle. Think of us like Uber in that analogy.


Was this article helpful?
6 out of 6 found this helpful.

The content available on this page is provided for information purposes only. Jetty makes no representations or warranties as to the accuracy, completeness or timeliness of the information. The information is not intended to provide legal, tax or accounting advice. Each person should consult a qualified advisor for advice specific to their circumstances. Jetty assumes no liability for actions taken in reliance upon the information contained herein.

Don’t see what you need?