XL Innovate invests in Lemonade

XL Innovate has made a significant investment in newly established peer 2 peer insurer Lemonade. Tom Hutton, its managing partner, has also joined the board.

XL Innovate is a venture capital firm focused on technology-driven innovation for insurance. XL Catlin, the main investor behind XL Innovate, also led Lemonade’s reinsurance programme.

"Tom is the only person I've met who speaks both insurance and tech like a native. For a full-stack P&C insurtech company like Lemonade, his expertise is uniquely valuable,” said Daniel Schreiber, co-founder and chief executive officer at Lemonade.

Hutton said: “We track the insurance space very closely, and have analyzed virtually every insurtech initiative in recent years.
Lemonade is a standout by any measure. Its team and technology is matched only by its ambition, and I have every confidence that it will continue to lead the insurtech field.”