The fast-growing insurance company enters its second European country, offering the Dutch market the ability to protect their homes and belongings with just a few taps.
Lemonade, the insurance company powered by artificial intelligence and behavioral economics, launched in another European country on the 2nd April 2020.
Consumers in the Netherlands can now get contents and liability insurance instantly, anytime, and from any device – as well as file claims and get paid in seconds through the Lemonade app.
The launch marks the second EU country Lemonade has entered, following Germany last year.
Unlike the traditional insurance model, Lemonade takes a flat fee for its operations, and gives remaining underwriting profit to non-profits, as part of its annual Giveback. The company launched its homeowners and renters insurance in New York in late 2016, and has been one of the fastest-growing insurance companies ever since.
Consumers rate Lemonade #1 for its insurance products across multiple platforms, citing the hassle-free digital experience with lightning-fast claim payments, best-in-class customer service, and an unconflicted business model.
“We chose the Netherlands for our next European launch due to the many requests we received from Dutch consumers asking us to come there next,” said Daniel Schreiber, cofounder and CEO, Lemonade. “Our unique insurance policy is not only the most transparent, affordable, and mission-driven in the market, but it’s also crafted specifically for Dutch consumers, with things such as bicycle theft coverage and more.”
The Lemonade product in the Netherlands enjoys the ease of use and delightful experience for which Lemonade is known in the United States, but has the added benefit of being based on the company’s Policy 2.0, a new insurance policy designed for the 21st century.
Policy 2.0, currently available only in the Netherlands and Germany, is a short, easy to understand, and transparent document designed for ordinary people and not for lawyers, a consumer-friendly departure from the dense and dated policies that dominate the market.
Lemonade is licensed and supervised by the Dutch Central Bank (DNB), and has its European headquarters in Amsterdam. The company chose to set up operations in the Netherlands for its collaborative and seasoned regulatory environment, coupled with a centralized hub of multilingual talent.
On its company website Lemonade states that it will be ‘coming soon to’
Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland and the United Kingdom