Online Insurer Lemonade Announces Europe Expansion
Lemonade offers customizable insurance policies at a flat monthly rate, currently available only in the U.S.
On Thursday, artificial intelligence-based online insurer Lemonade Inc. announced intentions to expand its services, currently available only in the U.S., to the European Market. The company did not provide specific details about where in Europe and at what capacity it intends to operate, nor did it give a specific timeline.
Lemonade, founded in 2015, offers customizable property and casualty insurance policies at a flat monthly rate. The company has offices in both the U.S. and Tel Aviv, and raised $180 million to date from investors including the Softbank Group Corporation. In October the company announced a partnership with WeWork, to offer renter's insurance to members of WeWork's co-living brand WeLive.