Greenlight Re Innovations, part of property and casualty insurer Greenlight Capital Re, has confirmed an investment in startup SafelyStay to tap the short-term rental space. 

The Atlanta-based startup offers short-term rental protection to homeowners concerned about potential damage to property and liability exposure.

SafelyStay minimises the possibility of homeowners facing losses by assessing each guest who books a specific property.

Once owners list their properties, SafelyStay embeds commercial insurance protection into the bookings through its tie-ups with various property management systems.

This enables a property manager to seamlessly administer claims within the startup’s platform.

According to SafelyStay, its platform pays nearly all claims within a maximum of two business days.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Greenlight Re CEO Simon Burton said: “The significant growth of the short-term rental market has occurred despite the absence of a suitable insurance product.

“Safely has the right product to respond to this demand and has prioritised customer experience through their impressive platform.”

SafelyStay founder and CEO Andrew Bate said: “We are excited to work with Greenlight Re and their recently launched Lloyd’s syndicate.

“Greenlight Re quickly understood the potential of Safely’s home rental product, and we look forward to collaborating with them to make our programme world-class.”

Since its inception, Safely is said to have protected nearly $100bn in homeowner liability over two million nights.

Earlier this year, Greenlight Re Innovations made an investment in a tax audit insurtech AuditCover Australia. The end-to-end digital audit insurance platform helps in eliminating most of the friction experienced in the industry.