iptiQ is a provider of micro-insurance policies, allowing tenants to sign up for an insurance policy in place of a rental deposit. The tenant does not provide a cash deposit, but rather pays a regular fee to iptiQ. If damages or other defects are claimed when the tenant moves out, the insurer (iptiQ) then covers the costs.
Here you can find more information about iptiQ. Also feel free to contact iptiQ for further questions around the integration.