On Tuesday, Janover Inc (NASDAQ:JNVR) announced that it has officially launched Janover Insurance Group Inc, its new insurtech subsidiary for commercial property insurance and more.

The company also announces it has been granted insurance licenses in Texas and Florida, with multiple applications in progress in several other states.

"Our ability to navigate large complex transactions in a marketplace model, particularly in multifamily and commercial property finance, fits perfectly in the insurance brokerage model," said Blake Janover, Chairman and CEO of Janover.

The company says that it has recruited executives to advise Janover Insurance and hired a top-tier manager to oversee operations to facilitate expansion.

Additionally, Janover has forged a partnership with a wholesale brokerage, expanding its insurance options, with negotiations underway with two others.

The company is developing a comprehensive content strategy to enhance client engagement across its platforms, leveraging its online presence to keep insurance at the forefront of client discussions.

"Looking ahead, Janover Insurance anticipates obtaining licenses in additional states, with the ultimate goal of offering national coverage and additional product offerings," said Blake Janover, Chairman and CEO of Janover.

"With over 100 million impressions annually on Google and a strong, replicable content strategy, we are committed to embedding insurance into our digital ecosystem," concluded Mr. Janover.

In January, Janover announced the launch of Janover Insurance Group. The company said the new venture will likely integrate with Janover's generative AI applications and directly plug into its industry-leading marketing funnel.

Price Action: JNVR shares closed at $1.05 on Monday.