Lemonade moves into property insurance

But just not in your neighborhood

Lemonade moves into property insurance


By Terry Gangcuangco

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

The digital insurance company first forayed into the French market in December 2020 to offer renters’ insurance that is powered by artificial intelligence. Now, with BNP Paribas Cardif acting as co-insurer, Lemonade will begin to provide homeowners’ insurance across France.

Daniel Schreiber, co-founder and chief executive of Lemonade, stated: “The European market was our fastest growing business last year. We’re now graduating from being a monoline to a multi-line insurer in Europe.

“Combined with our thriving partnership with a trusted, prestigious brand like BNP Paribas Cardif, we’re excited for this next chapter for our European business.”

In Europe, Lemonade is licensed and supervised by the Dutch Central Bank and operates in France under the European Freedom of Services regime. Continuing to expand globally, the US firm also operates in Germany, the Netherlands, and the UK.

In its announcement, Lemonade noted: “Since partnering over a year ago, BNP Paribas Cardif and Lemonade have seen increasing success in offering renters insurance throughout France. The partnership, bringing together BNP Paribas Cardif’s proven advisory expertise and Lemonade’s innovative approach, will evolve with an offer that is now aimed at homeowners.

“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 both on the Lemonade app and at cardif.fr, the new offering features not only the base coverage but also add-ons like school insurance, legal protection, and cover against outside-the-home theft.

In other markets, Lemonade also offers car, pet, and life insurance.            

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