Lemonade, a trailblazer in the digital insurance sector, has extended its repertoire of services to include homeowners insurance in France, enriching its already fruitful partnership with BNP Paribas Cardif.
The introduction of homeowners insurance by Lemonade is not just another product launch; it represents a significant milestone in the company’s journey within the European market.
Following its successful debut in France in December 2020 with AI-powered renters insurance, Lemonade has continued to broaden its horizons. The European sector has rapidly become its fastest-growing market, with this latest expansion serving as a testament to the company’s escalating influence on a global scale.
“The European market was our fastest growing business last year,” Lemonade CEO and co-founder Daniel Schreiber noted. “We’re now graduating from being a monoline to a multi-line insurer in Europe. Combined with our thriving partnership with a trusted, prestigious brand like BNP Paribas Cardif, we’re excited for this next chapter for our European business.”
Since the inception of their partnership, BNP Paribas Cardif and Lemonade have achieved remarkable success in offering renters insurance across France. The alliance marries BNP Paribas Cardif’s extensive advisory expertise with Lemonade’s innovative approach to insurance, setting a new standard for digital insurance services. The launch of homeowners insurance marks a significant evolution in their collaboration, aimed at homeowners who are now poised to benefit from a fully-digital home insurance solution. This service will be offered to BNP Paribas Cardif’s distribution partners, allowing Lemonade to leverage the insurer’s longstanding reputation and deep-rooted presence in the French market.
Lemonade’s homeowners insurance is meticulously designed to meet the specific needs of French customers, with policies starting at just €10 per month. The coverage extends beyond basic industry standards, offering a range of add-ons for comprehensive protection. These include school insurance for children up to 18 years old, legal protection for a variety of day-to-day disputes, and theft outside the home coverage. Such offerings underscore Lemonade’s commitment to providing flexible, full-scope insurance solutions.
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