US-based Lemonade has expanded its insurance coverage choices in France with the launch of a brand new householders insurance coverage product, in alliance with BNP Paribas Cardif.
This transfer goals to offer French clients with a totally digital insurance coverage expertise, beginning at €10 ($10.85) a month.
Lemonade’s householders coverage consists of normal protection choices and a variety of add-ons for complete safety.
The brand new householders insurance coverage proposition is tailor-made to the particular wants of French clients, who can receive protection by means of the Lemonade app.
It consists of important protections akin to hearth and water harm, alongside distinctive add-ons like college insurance coverage for youngsters and theft protection outdoors the house.
BNP Paribas Cardif France will now be capable to supply Lemonade’s digital house insurance coverage to its distribution community.
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In the meantime, Lemonade expects to learn from the established presence of BNP Paribas Cardif, which has been serving the French marketplace for 5 many years.
In response to Lemonade, the dangers lined by the brand new householders insurance coverage product shall be shared between Lemonade Insurance coverage and BNP Paribas Cardif, performing as co-insurers.
Lemonade CEO and co-founder Daniel Schreiber stated: “The European market was our fastest-growing enterprise final 12 months. We at the moment are graduating from being a monoline to a multi-line insurer in Europe.
“Mixed with our thriving partnership with a trusted, prestigious model like BNP Paribas Cardif, we’re excited for this subsequent chapter for our European enterprise.”
Lemonade forayed into the French insurance coverage market in December 2020.
In February 2023, Lemonade and BNP Paribas Cardif teamed as much as supply renters insurance coverage to French clients.
Lemonade’s presence extends past France and the US, with providers additionally out there in Germany, the Netherlands and the UK.
The corporate has its European headquarters in Amsterdam.
