Lemonade: A New Buildings and Contents Insurance in the UK
Lemonade, a US-based insurtech company, has partnered with Aviva to launch its Buildings and Contents insurance in the UK, providing a fully digital approach to homeowners' insurance needs. This partnership aims to leverage Lemonade's AI-driven technology to streamline the insurance process, offering quick and easy onboarding and claims handling through digital platforms.
Expanding the company’s home insurance offerings, homeowners throughout the UK can now purchase extensive coverage for their home and belongings.
Since its UK launch in October 2022 and obtaining PRA licensing, the UK has rapidly emerged as one of Lemonade's fastest-growing markets. The introduction of buildings and contents insurance, supported by the ongoing collaboration with established insurer Aviva, is set to further support Lemonade's objectives.
"The UK has proven to be an exciting market for us with a large digitally-savvy population who appreciate an easy, personalised experience," says Daniel Schreiber, Lemonade CEO and co-founder.
“Growing our home insurance offerings this quickly is a tribute to our incredible team and our thriving partnership with Aviva."
What the new coverage offers:
Tailored specifically for UK customers and boasting a Defaqto 5-star rating, homeowners can secure instant coverage through the Lemonade app or online, starting at £14 a month (subject to conditions: Price for an excess of £150, contents cover of £10,000, for a single adult living in a house. Excludes where the primary user has made a relevant claim in the last 5 years).
Along with core coverage that includes rebuild costs, temporary accommodation, and civil and property liability, Lemonade’s Buildings & Contents insurance offers flexible contents coverage up to £100,000. Additionally, a range of add-ons is available to ensure comprehensive coverage and flexibility, such as:
● Home emergency: Emergency assistance provided in case of events such as a broken boiler, burst pipes, broken locks or electrical failures.
● Accidental damage: Coverage is provided for unexpected accidental events that damage your content or home.
● Theft and Loss: Theft and accidental loss in and outside your home is covered; bikes, laptops, and phones are included.
● Legal Protection: Specialised legal assistance provided in handling disputes about the insured home, clinical negligence, and contracts of employment.
“We’re excited to expand our partnership with Lemonade in the UK, building on our first product launch in 2022,” says Jon Marsh, MD Partnerships and Transformation, Personal Insurance at Aviva.
“Aviva and Lemonade share common values and by working together we can create compelling new propositions and experiences for customers.”
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