Lemonade has expanded its pet insurance offering to customers in Massachusetts, marking the 37th state where the InsurTech covers dogs and cats.
The company announced the update to its coverage — available exclusively for cats and dogs — letting pet parents pay for diagnostic, procedural and other medical needs.
“Massachusetts has seen an increase in pet ownership throughout the pandemic and, more recently, a surge of pets up for adoption following nearby storms according to local shelters,” the insurer said. “With Lemonade, new and existing pet parents can access its top-rated insurance.”
This includes personalized coverage, which let pet owner create an insurance package that goes beyond the base Lemonade policy. This includes things like spaying or neutering, vaccinations, microchipping and flea and tick treatments, as well as vet visit fees or physical therapy options.
The company says customers also get access to its app, providing an easier digital experience when dealing with claims and quotes.
“With the use of AI and Lemonade’s proprietary technology, many claims are resolved within minutes, creating a hassle-free experience when customers need it most,” Lemonade said.
The company also touts its “socially-impactful” business model, with a giveback program that donates leftover premiums to a charity of the customer’s choice, such as SPCA International and the Humane Society of the United States.
Founded in 2016, Lemonade says it works to streamline the insurance process and “replace brokers and bureaucracy with bots and machine learning.” Before launching its pet insurance service in 2020, the company provided homeowner and renter insurance.
Read more: Insurtech Firm Lemonade Acquires Metromile, Pet Business ‘Outperforms Expectations’ in Q3
In an earnings call last year, co-founder and CEO Daniel Schreiber said pet insurance had been a boon to the company.
“It has formed in short order a sizable portion of our business on any given day … oftentimes 20-30% of our sales will come from pet insurance,” he said, adding that “it has provided both an additional on-ramp to Lemonade, [bringing in] customers that we otherwise might not have gotten at all.”
Last year saw Lemonade delve into the world of car insurance, while also completing its first-ever acquisition, when it purchased the online insurance platform and pay-per-mile vehicle insurer Metromile.
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