Customers can now protect their things and file
claims instantly, from anywhere, on any device and get paid in
seconds
Lemonade (NYSE: LMND), the insurance company powered by AI and
social impact, today launched in the United Kingdom. Residents
across the UK can now get Lemonade Contents insurance instantly,
from anywhere, on any device, as well as file claims and get paid
in seconds.
Today’s launch follows Lemonade’s previous launches in France,
Germany, and the Netherlands.
Founded in 2015, Lemonade launched its flagship renters
insurance in the United States in 2016, where it is now ranked one
of the top renters insurance products in the market. With today’s
launch Lemonade brings the same instantaneous and delightful
experience to residents in the UK. Customers 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 social impact baked directly into its business model. Through
its Giveback program, the company donates leftover premiums to
non-profit organizations selected by its customers, supporting
causes like equality, climate, and poverty.
Residents in the UK are now able to protect their belongings
with Lemonade, featuring a Defaqto 5 Star Rating, starting at just
£4 a month. Lemonade’s Contents insurance includes worldwide
coverage for individual personal items of up to £2,000 each, total
coverage 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.
“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,” said Daniel Schreiber, Lemonade co-CEO and
co-founder. “We believe the millions of local renters will
appreciate what Lemonade has to offer. After all, who doesn’t want
instant, transparent, personalized, and mission-driven
insurance?”
Lemonade is entering the UK market in a long-term, strategic
partnership with leading UK insurer, Aviva.
“We’re excited to be appointed as the long-term partner for
Lemonade in the UK. We share a common outlook for how digital, AI
and data can transform customer experiences, and the role insurers
can play in building stronger communities,” said Adam Winslow, CEO
of Aviva UK & Ireland General Insurance. “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.”
“Pairing Lemonade’s strengths with Aviva's promises to deliver
an 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,” added Schreiber.
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.
Residents in the UK can now buy a new policy through the
Lemonade app or online at lemonade.com/uk.
About Lemonade Lemonade offers renters, homeowners, car,
pet, and life insurance. Powered by artificial intelligence and
social impact, Lemonade’s full stack insurance carriers in the US
and the EU replace brokers and bureaucracy with bots and machine
learning, aiming for zero paperwork and instant everything. A
Certified B-Corp, Lemonade gives unused premiums to nonprofits
selected by its community, during its annual Giveback. Lemonade is
currently available in the United States, Germany, the Netherlands,
France, and the UK, and continues to expand globally.
Follow @lemonade_inc on Twitter for updates.
About Aviva Aviva is the UK’s leading Insurance, Wealth
& Retirement business, operating in the UK, Ireland and Canada
with additional international investments in Singapore, China and
India. With 18.5 million customers, Aviva helps customers make the
most out of life, plan for the future, and have the confidence that
if things go wrong it will be there to put it right. Aviva has been
taking care of people for 325 years, in line with the company’s
purpose of being ‘with you today, for a better tomorrow’. In 2021,
Aviva paid £30.2 billion in claims and benefits to its
customers.
Aviva is a market leader in sustainability. In 2021, the company
announced its plan to become a Net Zero carbon emissions company by
2040, the first major insurance company in the world to do so. This
plan means Net Zero carbon emissions from its investments by 2040;
setting out a clear pathway to get there with a cut of 25% in the
carbon intensity of investments by 2025 and of 60% by 2030; and Net
Zero carbon emissions from its own operations and supply chain by
2030. Find out more about Aviva’s climate goals at
www.aviva.com/climate-goals and sustainability ambition and action
at www.aviva.com/sustainability.
For more details about Aviva, the business, and how the company
helps customers, visit www.aviva.com/about-us. The Aviva newsroom
at www.aviva.com/newsroom includes links to spokespeople images,
podcasts, research reports and news release archive. You can follow
@avivaplc on Twitter, Aviva on LinkedIn, @avivaplc on Instagram,
and find the latest corporate films from Aviva on the company’s
YouTube channel.
FORWARD LOOKING STATEMENTS
This press release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements contained in this press release that do not
relate to matters of historical fact should be considered
forward-looking statements, including express or implied statements
regarding the success of our product launch in the UK and
partnership with Aviva. These statements are neither promises nor
guarantees, but involve known and unknown risks, uncertainties and
other important factors that may cause our actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements, including, but not limited to, the
following: Our history of losses and the fact that we may not
achieve or maintain profitability in the future; our ability to
retain and expand our customer base; the fact that the “Lemonade”
brand may not become as widely known as incumbents’ brands or the
brand may become tarnished; the denial of claims or our failure to
accurately and timely pay claims; our ability to attain greater
value from each user; the novelty of our business model and its
unpredictable efficacy and susceptibility to unintended
consequences; the possibility that we could be forced to modify or
eliminate our Giveback, which could undermine our business model;
the examinations and other targeted investigations by our primary
and other state insurance regulators that could result in adverse
examination findings and necessitate remedial actions; our limited
operating history; our ability to manage our growth effectively;
the impact of intense competition in the segments of the insurance
industry in which we operate on our ability to attain or increase
profitability; the unavailability of reinsurance at current levels
and prices, which could limit our ability to write new business;
our ability to renew reinsurance contracts on comparable duration
and terms to those currently in effect; our exposure to
counterparty risks as a result of reinsurance; the loss of personal
customer information, damage to our reputation and brand, or harm
to our business and operating results as a result of security
incidents or real or perceived errors, failures or bugs in our
systems, website or app; our actual or perceived failure to protect
customer information and other data, respect customers’ privacy, or
comply with data privacy and security laws and regulations; our
ability to comply with extensive insurance industry regulations and
the need to incur additional costs or devote additional resources
to comply with changes to existing regulations; our exposure to
additional regulatory requirements specific to other vertical
markets that we enter or have entered, including auto, pet and life
insurance, and the need to devote additional resources to comply
with these regulations; the ability of Lemonade to successfully
integrate Metromile’s operations, product lines and technology; the
ability of Lemonade to implement its plans, forecasts and other
expectations with respect to Metromile’s business after the
completion of the transaction and realize additional opportunities
for growth and innovation; the ability of Lemonade to realize the
anticipated synergies from the proposed transaction in the
anticipated amounts or within the anticipated timeframes or costs
expectations or at all; the ability to maintain relationships with
Lemonade’s and Metromile’s respective employees, customers, other
business partners and governmental authorities; and the other
risks, uncertainties and important factors contained and
identified; and our inability to predict the lasting impacts of
COVID-19 to our business in particular, and the global economy
generally. These and other important factors are discussed under
the caption “Risk Factors” in our Form 10-K filed with the SEC on
March 1, 2022 and in our other filings with the SEC could cause
actual results to differ materially from those indicated by the
forward-looking statements made in this press release. Any such
forward-looking statements represent management’s beliefs as of the
date of this press release. While we may elect to update such
forward-looking statements at some point in the future, we disclaim
any obligation to do so, even if subsequent events cause our views
to change.
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version on businesswire.com: https://www.businesswire.com/news/home/20221002005039/en/
Lauren Leibowitz lauren@astrskpr.com 631-942-3559
Lemonade (NYSE:LMND)
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