Clients can now defend their issues and file claims immediately, from anyplace, on any gadget and receives a commission in seconds
LONDON & NEW YORK–(BUSINESS WIRE)–
Lemonade (NYSE: LMND), the insurance coverage firm powered by AI and social impression, right this moment launched within the United Kingdom. Residents throughout the UK can now get Lemonade Contents insurance coverage immediately, from anyplace, on any gadget, in addition to file claims and receives a commission in seconds.
As we speak’s launch follows Lemonade’s earlier launches in France, Germany, and the Netherlands.
Based in 2015, Lemonade launched its flagship renters insurance coverage in the USA in 2016, the place it’s now ranked one of many prime renters insurance coverage merchandise out there. With right this moment’s launch Lemonade brings the identical instantaneous and pleasant expertise to residents within the UK. Clients can get a quote, buy contents insurance coverage, file a declare, and receives a commission – all inside seconds.
As a Public Profit Company and Licensed B-Corp, Lemonade has social impression baked immediately into its enterprise mannequin. By way of its Giveback program, the corporate donates leftover premiums to non-profit organizations chosen by its prospects, supporting causes like equality, local weather, and poverty.
Residents within the UK are actually in a position to defend their belongings with Lemonade, that includes a Defaqto 5 Star Ranking, beginning at simply £4 a month. Lemonade’s Contents insurance coverage consists of worldwide protection for particular person private objects of as much as £2,000 every, whole protection as much as £100,000, and no cancellation charges. Add-on protection can be out there for individuals who need further safety for theft and loss-related incidents, unintentional injury to cell units in addition to professional assist by authorized safety.
“Insurance coverage as we all know it hails from the UK, as do I. So each professionally and personally bringing Lemonade to the UK is a homecoming of kinds,” mentioned Daniel Schreiber, Lemonade co-CEO and co-founder. “We imagine the hundreds of thousands of native renters will recognize what Lemonade has to supply. In any case, who doesn’t need immediate, clear, customized, and mission-driven insurance coverage?”
Lemonade is coming into the UK market in a long-term, strategic partnership with main UK insurer, Aviva.
“We’re excited to be appointed because the long-term companion for Lemonade within the UK. We share a standard outlook for a way digital, AI and knowledge can remodel buyer experiences, and the function insurers can play in constructing stronger communities,” mentioned Adam Winslow, CEO of Aviva UK & Eire Common Insurance coverage. “By becoming a member of forces we will guarantee compelling propositions attain a broader vary of consumers, together with renters, an under-served but rising phase of the UK insurance coverage market. In our 325 yr historical past we now have tailored and thrived in a altering world and our partnership with Lemonade is a marker of our intent to proceed simply this.”
“Pairing Lemonade’s strengths with Aviva’s guarantees to ship an insurance coverage that’s digitally native, but rooted within the start of contemporary statistics within the 1700s. It’s the very best of each worlds, giving individuals a refreshing expertise backed by an organization they’ve recognized and trusted for years,” added Schreiber.
Lemonade Insurance coverage NV is regulated by the Monetary Conduct Authority (FCA) and topic to restricted regulation by the Prudential Regulatory Authority (PRA) within the UK.
Residents within the UK can now purchase a brand new coverage by the Lemonade app or on-line at lemonade.com/uk.
Lemonade affords renters, householders, automobile, pet, and life insurance coverage. Powered by synthetic intelligence and social impression, Lemonade’s full stack insurance coverage carriers within the US and the EU substitute brokers and paperwork with bots and machine studying, aiming for zero paperwork and immediate every part. A Licensed B-Corp, Lemonade offers unused premiums to nonprofits chosen by its group, throughout its annual Giveback. Lemonade is at the moment out there in the USA, Germany, the Netherlands, France, and the UK, and continues to develop globally.
Comply with @lemonade_inc on Twitter for updates.
Aviva is the UK’s main Insurance coverage, Wealth & Retirement enterprise, working within the UK, Eire and Canada with further worldwide investments in Singapore, China and India. With 18.5 million prospects, Aviva helps prospects take advantage of out of life, plan for the longer term, and have the boldness that if issues go flawed it is going to be there to place it proper. Aviva has been taking good care of individuals for 325 years, consistent with the corporate’s function of being ‘with you right this moment, for a greater tomorrow’. In 2021, Aviva paid £30.2 billion in claims and advantages to its prospects.
Aviva is a market chief in sustainability. In 2021, the corporate introduced its plan to grow to be a Web Zero carbon emissions firm by 2040, the primary main insurance coverage firm on the earth to take action. This plan means Web Zero carbon emissions from its investments by 2040; setting out a transparent pathway to get there with a reduce of 25% within the carbon depth of investments by 2025 and of 60% by 2030; and Web Zero carbon emissions from its personal operations and provide chain by 2030. Discover out extra about Aviva’s local weather targets at www.aviva.com/climate-goals and sustainability ambition and motion at www.aviva.com/sustainability.
For extra particulars about Aviva, the enterprise, and the way the corporate helps prospects, go to www.aviva.com/about-us. The Aviva newsroom at www.aviva.com/newsroom consists of hyperlinks to spokespeople photos, podcasts, analysis reviews and information launch archive. You may observe @avivaplc on Twitter, Aviva on LinkedIn, @avivaplc on Instagram, and discover the newest company movies from Aviva on the corporate’s YouTube channel.
FORWARD LOOKING STATEMENTS
This press launch might include forward-looking statements throughout the that means of the Personal Securities Litigation Reform Act of 1995. All statements contained on this press launch that don’t relate to issues of historic truth must be thought-about forward-looking statements, together with specific or implied statements relating to the success of our product launch within the UK and partnership with Aviva. These statements are neither guarantees nor ensures, however contain recognized and unknown dangers, uncertainties and different necessary elements that will trigger our precise outcomes, efficiency or achievements to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking statements, together with, however not restricted to, the next: Our historical past of losses and the truth that we might not obtain or keep profitability sooner or later; our means to retain and develop our buyer base; the truth that the “Lemonade” model might not grow to be as extensively often called incumbents’ manufacturers or the model might grow to be tarnished; the denial of claims or our failure to precisely and well timed pay claims; our means to achieve better worth from every person; the novelty of our enterprise mannequin and its unpredictable efficacy and susceptibility to unintended penalties; the likelihood that we could possibly be pressured to change or eradicate our Giveback, which may undermine our enterprise mannequin; the examinations and different focused investigations by our main and different state insurance coverage regulators that might lead to hostile examination findings and necessitate remedial actions; our restricted working historical past; our means to handle our development successfully; the impression of intense competitors within the segments of the insurance coverage business during which we function on our means to achieve or enhance profitability; the unavailability of reinsurance at present ranges and costs, which may restrict our means to put in writing new enterprise; our means to resume reinsurance contracts on comparable length and phrases to these at the moment in impact; our publicity to counterparty dangers because of reinsurance; the lack of private buyer info, injury to our popularity and model, or hurt to our enterprise and working outcomes because of safety incidents or actual or perceived errors, failures or bugs in our techniques, web site or app; our precise or perceived failure to guard buyer info and different knowledge, respect prospects’ privateness, or adjust to knowledge privateness and safety legal guidelines and rules; our means to adjust to in depth insurance coverage business rules and the necessity to incur further prices or dedicate further sources to adjust to modifications to present rules; our publicity to further regulatory necessities particular to different vertical markets that we enter or have entered, together with auto, pet and life insurance coverage, and the necessity to dedicate further sources to adjust to these rules; the flexibility of Lemonade to efficiently combine Metromile’s operations, product traces and expertise; the flexibility of Lemonade to implement its plans, forecasts and different expectations with respect to Metromile’s enterprise after the completion of the transaction and understand further alternatives for development and innovation; the flexibility of Lemonade to appreciate the anticipated synergies from the proposed transaction within the anticipated quantities or throughout the anticipated timeframes or prices expectations or in any respect; the flexibility to take care of relationships with Lemonade’s and Metromile’s respective workers, prospects, different enterprise companions and governmental authorities; and the opposite dangers, uncertainties and necessary elements contained and recognized; and our lack of ability to foretell the lasting impacts of COVID-19 to our enterprise particularly, and the worldwide economic system usually. These and different necessary elements are mentioned below the caption “Threat Components” in our Kind 10-Okay filed with the SEC on March 1, 2022 and in our different filings with the SEC may trigger precise outcomes to vary materially from these indicated by the forward-looking statements made on this press launch. Any such forward-looking statements symbolize administration’s beliefs as of the date of this press launch. Whereas we might elect to replace such forward-looking statements in some unspecified time in the future sooner or later, we disclaim any obligation to take action, even when subsequent occasions trigger our views to vary.
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Lauren Leibowitz[email protected]