- Lemonade is increasing into the U.Ok. right now.
- At this time’s world growth marks Lemonade’s fourth European nation. Along with the U.S. and U.Ok., Lemonade can also be accessible in France, Germany, and the Netherlands.
- Lemonade entered the insurance coverage sector with its flagship renters insurance coverage providing in 2015 and now has a market capitalization of $1.54 billion.
U.S. insurtech Lemonade already has notoriety amongst mainstream shoppers within the U.S., and right now, the New York-based firm is as soon as once more increasing its geographic attain by launching within the U.Ok.
“Insurance coverage as we all know it hails from the U.Ok., as do I. So each professionally and personally bringing Lemonade to the U.Ok. is a homecoming of kinds,” stated Lemonade Co-CEO and Co-founder Daniel Schreiber. “We imagine the hundreds of thousands of native renters will respect what Lemonade has to supply. In any case, who doesn’t need immediate, clear, customized, and mission-driven insurance coverage?”
Beginning right now, U.Ok. residents can join Lemonade’s private property protection, Lemonade Contents insurance coverage. Protection plans begin at $4.52 (£4) a month. The Contents insurance coverage covers particular person private gadgets of as much as $2,260 (£2,000) every, and gives whole protection as much as $113,000 (£100,000). Lemonade additionally gives add-on protection for theft and loss-related incidents, unintended harm to cellular units, and professional assist by authorized safety.
This isn’t Lemonade’s first worldwide growth. The corporate has additionally launched in France, Germany, and the Netherlands. For this transfer, nonetheless, Lemonade is counting on the U.Ok.’s largest insurance coverage provider, Aviva, which counts 18.5 million clients throughout the globe.
“By becoming a member of forces we are able to guarantee compelling propositions attain a broader vary of consumers, together with renters, an under-served but rising section of the U.Ok. insurance coverage market,” stated CEO of Aviva U.Ok. & Eire Common Insurance coverage Adam Winslow. “In our 325 yr historical past we have now tailored and thrived in a altering world and our partnership with Lemonade is a marker of our intent to proceed simply this.”
Lemonade entered the insurance coverage sector with its flagship renters insurance coverage providing in 2015, when AI-driven, digital first insurance coverage choices have been hardly commonplace. At this time, the corporate has expanded to supply owners, auto, pet, and life insurance coverage merchandise. Lemonade went public in 2020 and now trades on the New York Inventory Trade beneath the ticker LMND with a market capitalization of $1.54 billion.
Photograph by J. Kelly Brito