Artificial intelligence (AI)-powered insurance company Lemonade has launched in the United Kingdom and now offers contents insurance to residents across the U.K.
Lemonade now operates in five countries, after previous launches in the United States, France, Germany and the Netherlands, according to a Monday (Oct. 3) press release.
“We believe the millions of local renters will appreciate what Lemonade has to offer,” Lemonade Co-CEO and Co-Founder Daniel Schreiber said in the release. “After all, who doesn’t want instant, transparent, personalized and mission-driven insurance?”
With Lemonade’s flagship renters’ insurance, customers can get a quote and purchase contents insurance on any device. They can also file a claim and get paid in seconds, according to the release.
Residents in the U.K. can protect their belongings with Lemonade’s contents insurance, and add-on insurance is available to provide extra coverage for theft and loss, accidental damage to mobile devices and legal protection, the release stated.
In the U.K., Lemonade has a partnership with U.K. insurer Aviva.
“We share a common outlook for how digital, AI and data can transform customer experiences, and the role insurers can play in building stronger communities,” Aviva U.K. and Ireland General Insurance CEO Adam Winslow said in the release. “By joining forces, we can ensure compelling propositions reach a broader range of customers, including renters, an underserved yet growing segment of the U.K. insurance market.”
Since its launch in New York in 2016, Lemonade has worked to digitize the insurance process, replacing brokers and bureaucracy with bots and machine learning algorithms that can provide homeowners’ and renters’ insurance policies in minutes.
Read more: Lemonade Sells Metromile Enterprise Business Solutions Platform
The mobile insurance firm made Europe its launchpad for international expansion, debuting in Germany in 2019, followed by the Netherlands, France and now the U.K.
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