Sertis
Sertis is a contemporary Managing General Agency (MGA) specializing in insuring professionally managed multifamily portfolios across 32 states and the District of Columbia.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
* | $3.2m | Seed | |
| Total Funding | 000k | ||
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Sertis operates as a managing general agency (MGA) with a specialized focus on the multifamily property insurance market in the United States. The company was co-founded by CEO Mark Gardella, a 25-year veteran of the commercial insurance industry with experience at major firms like Zurich and AIG. His background in the MGA space and frustration with the slow pace of innovation in large corporations fueled his desire to create a data-centric insurance solution.
The firm addresses the challenges of affordability and stability in multifamily insurance by leveraging a proprietary risk management platform. This technology, developed in partnership with Leonardo247, moves beyond traditional, static risk assessments. It utilizes a dynamic scoring system, the Sertis Risk Indicator (SRI) Score, which provides continuous, real-time insight into how property management teams are performing risk management tasks. This data-driven approach allows Sertis to offer more accurate pricing and coverage, rewarding property owners who proactively manage their assets.
Sertis's business model centers on empowering insurance brokers and agents, who are its primary clients. It provides them with tools and data to better advise their own clients—the property owners and operators. By using the Sertis platform, brokers can offer actionable insights to property owners on how to improve their risk profiles and lower insurance costs. The company generates revenue as an MGA, underwriting policies backed by an AM Best A-rated insurer, Accelerant. Its offerings include package policies, monoline general liability, and monoline property with equipment breakdown, initially targeting garden-style apartment buildings.
A significant milestone for the company was securing $3.2 million in an oversubscribed seed funding round in March 2024, led by JLL Spark Global Ventures. This investment supports its aggressive expansion strategy, which began with operations in 15 states in June 2023 and has since grown to over 30, with a goal for full national availability by 2026.
Keywords: multifamily insurance, managing general agency, MGA, commercial property insurance, InsurTech, risk management platform, property insurance, general liability, Sertis Risk Indicator, real estate insurance, property management technology, apartment building insurance, Mark Gardella, JLL Spark, insurance data analytics, risk assessment technology, commercial real estate services, P&C insurance, insurance underwriting, Accelerant