US insurtech leader Lemonade launches in the United Kingdom

The New York-based insurtech Lemonade has announced the rollout of services in the UK. Customers can now purchase P&C cover via the Lemonade app or website

US insurtech leader Lemonade has launched services for customers in the UK. The New York-based start-up which is powered by AI and social impact is now available for customers across the UK. Lemonade Contents insurance is instantly available, on any device, and customers can also file claims in seconds.

Lemonade’s entry into the UK market comes after the New York firm entered Germany in 2019, the Netherlands in 2020, and France earlier last year. Lemonade’s entry into the UK market is also part of the insurtech’s strategic partnership with leading UK insurer, Aviva

According to reports, Lemonade Insurance NV is regulated by the Financial Conduct Authority (FCA) and subject to limited regulation by the Prudential Regulatory Authority (PRA) in the UK. 

UK customers are now able to take out P&C cover with Lemonade starting from £4 a month. Lemonade’s contents insurance includes worldwide coverage for individual personal items of up to £2,000 each, total coverage of up to £100,000, and no cancellation fees. Add-on coverage is also available for those who want extra protection for theft and loss-related incidents, accidental damage to mobile devices as well as expert help through legal protection.

Lemonade has experienced skyrocketing success in the US market

Founded in 2015, Lemonade started with renters insurance in the US in 2016, where it is now ranked one of the top renters insurance products in the market. The UK launch means residents in the UK can get a quote, purchase contents insurance, file a claim, and get paid - all within seconds. 

As a Public Benefit Corporation and Certified B-Corp, Lemonade has a social impact element as part of its core business model. The insurtech operates a Giveback programme which sees it donate leftover premiums to non-profit organisations selected by its customers, supporting causes like equality, climate, and poverty. 

Speaking about the UK launch, Daniel Schreiber, Lemonade Co-CEO and Co-founder of Lemonade, said, “Insurance as we know it hails from the UK, as do I. So both professionally and personally bringing Lemonade to the UK is a homecoming of sorts. We believe the millions of local renters will appreciate what Lemonade has to offer. After all, who doesn’t want instant, transparent, personalised, and mission-driven insurance?” 

Adam Winslow, CEO of Aviva UK & Ireland General Insurance, also said the UK insurance giant and Lemonade shared many similar goals. “We’re excited to be appointed as the long-term partner for Lemonade in the UK. We share a common outlook on how digital, AI, and data can transform customer experiences, and the role insurers can play in building stronger communities.

“By joining forces we can ensure compelling propositions reach a broader range of customers, including renters, an under-served yet growing segment of the UK insurance market. In our 325-year history, we have adapted and thrived in a changing world and our partnership with Lemonade is a marker of our intent to continue just this.”

Schreiber added, “Pairing Lemonade’s strengths with Aviva's promises to deliver insurance that is digitally native, yet rooted in the birth of modern statistics in the 1700s. It’s the best of both worlds, giving people a refreshing experience backed by a company they’ve known and trusted for years.” 

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