Lemonade strikes into property insurance coverage

Lemonade, which is headquartered in New York and has a European base in Amsterdam, has expanded additional in Europe with a brand new providing in France.

The digital insurance coverage firm first forayed into the French market in December 2020 to supply renters’ insurance coverage that’s powered by synthetic intelligence. Now, with BNP Paribas Cardif performing as co-insurer, Lemonade will start to offer owners’ insurance coverage throughout France.

Daniel Schreiber, co-founder and chief government of Lemonade, acknowledged: “The European market was our quickest rising enterprise final 12 months. We’re now graduating from being a monoline to a multi-line insurer in Europe.

In Europe, Lemonade is licensed and supervised by the Dutch Central Financial institution and operates in France underneath the European Freedom of Providers regime. Persevering with to increase globally, the US agency additionally operates in Germany, the Netherlands, and the UK.

In its announcement, Lemonade famous: “Since partnering over a 12 months in the past, BNP Paribas Cardif and Lemonade have seen rising success in providing renters insurance coverage all through France. The partnership, bringing collectively BNP Paribas Cardif’s confirmed advisory experience and Lemonade’s progressive method, will evolve with a suggestion that’s now aimed toward owners.

“BNP Paribas Cardif France will have the ability to suggest this totally digital residence insurance coverage to its distribution companions, and Lemonade will profit from the deep expertise of an insurer with a widely known model that has been working within the French marketplace for 50 years.”

Accessible to France’s residents each on the Lemonade app and at cardif.fr, the brand new providing options not solely the bottom protection but in addition add-ons like faculty insurance coverage, authorized safety, and canopy in opposition to outside-the-home theft.

In different markets, Lemonade additionally affords automotive, pet, and life insurance coverage.            

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