Insurtech Lemonade forays into French market — its third European country

Artificial intelligence-powered insurtech company Lemonade has entered its third European country following its  launch in the Netherlands earlier this year and  Germany in 2019.

Lemonade, one of the best-funded insurtech startups, has now expanded into France, offering products crafted specifically for the French market where home insurance is often obligatory for renting or having a mortgage on a property.

The company launched its homeowners and renters insurance in New York in late 2016, and went public in July 2020. Lemonade is licensed and supervised by the Dutch Central Bank (DNB), and has its European headquarters in Amsterdam.

Similar to the German and Dutch products, the French product is also based on the company’s new Policy 2.0, a "short, easy-to-understand, and transparent" document that it says is designed for ordinary people and not only for lawyers.

Daniel Schreiber, Lemonade CEO and co-founder, said: “Home insurance is often legally required in France, which makes it a compelling opportunity for Lemonade’s next European country launch.

“While the French insurance market is one of the most developed globally, we believe that Lemonade’s unique mix of value, values, and technology will stand out to the French consumer, offering the ability to get fast, personalized, and mission-driven insurance, with a few taps.”