US agency Lemonade marks additional European growth

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 supply owners’ insurance coverage throughout France.

Daniel Schreiber, co-founder and chief govt 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 Bank and operates in France below the European Freedom of Services regime. Continuing 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 revolutionary method, will evolve with a suggestion that’s now geared toward owners.

“BNP Paribas Cardif France will be able to propose this fully digital home insurance to its distribution partners, and Lemonade will benefit from the deep experience of an insurer with a widely recognized brand that has been operating in the French market for 50 years.”

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

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

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