“We believe in trust. We’re handling a very sensitive transaction”, says Omri.
Headquartered in New York City and with the Development and Product teams based in Tel Aviv, Jones automates the full life cycle of insurance operations from extraction and collection to approvals and resolution across any transaction in real estate.
“We’ve built Jones to give one network where you can find all the vendors, subcontractors and tenants who are leasing space and simply look up their insurance profile and get instant verification.”
With close to 8,000 buildings and hundreds of thousands of stakeholders using the system across the U.S, Omri talks through the benefits on offer to clients and the flexibility of integrating with existing core property management or construction management systems. As well as time savings, he describes how Jones is helping users increase compliance rates and decrease liability.
Omri, who started his career journey in the Israeli military, discusses the challenges encountered in scaling the business including the slower rate of tech adoption in commercial real estate, economic downturns and the impact on the sales cycle.
With a group of talented tenacious people, diverse in their perspectives and backgrounds, Omri defines the importance trust, generosity and ownership play in forming Jones’ culture and values. He goes on to emphasise the importance of physical, spiritual and emotional wellbeing.
“Life is not Jones. Jones is part of your life. Take care of yourself and bring that to the company rather than bring the company to your life.”
Omri highlights the significance of insurance knowledge for the business as it continues its rapid expansion. “Insurance knowledge drives the algorithms that drives the product.”
He concludes by advising fellow founders to have someone alongside them, a great co-founder relationship.
“It’s like what motivates you to complete the Navy Seals experience, it’s actually the person next to you who’s doing the course with you and being there to be supportive of them and then gaining their support in return.”
The Insurance Coffee House Podcast is hosted by Nick Hoadley, CEO, Insurance Search, the Executive Search Consultancy for growing Insurance and Insurtech businesses across the globe.