launched its first European country today. Consumers in Germany can now
get contents and liability insurance instantly, anytime, and from any
device – and they can file claims and get paid in seconds.
Founded by tech veterans Daniel Schreiber and Shai Wininger, Lemonade is
powered by artificial intelligence and driven by social good. Unlike the
traditional insurance model, Lemonade takes a flat fee for its
operations, and gives remaining underwriting profit to nonprofits, 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.
Today’s launch in Germany marks a first for the insurance industry: Policy
2.0, a new insurance policy designed for the 21st century. Policy
2.0 is a short, easy to understand, and transparent document that was
designed for ordinary people and not for lawyers. Germany is the first
country to offer Lemonade’s Policy 2.0, a consumer-friendly departure
from the dense and dated policies available.
“We chose Germany for our first international launch because it combines
a very traditional insurance industry, with a very forward thinking,
digital-first consumer,” said Shai Wininger, Chief Lemonade Maker and
cofounder of Lemonade. “Insurance that is instant, transparent,
affordable, and mission-driven has universal appeal, which is why we
look forward to launching in many more countries in the months and years
Lemonade enters the German market in partnership with AXA Germany,
having entered into a multi-year reinsurance agreement to share
insurance-related risk. The partnership connects the market expertise
and broad networks of a global leader with Lemonade’s refreshing
business model and instant everything technology.
“Rethinking insurance from a customer’s perspective is key to our
mission. Therefore, AXA fosters self-driven innovation and partnerships
more than ever. Our cooperation with Lemonade is strategically oriented,
with reinsurance representing a first step in this direction,” said
Alexander Vollert, CEO AXA Germany.
Lemonade is licensed and supervised by the Dutch Central Bank (DNB), and
has established its European headquarters in Amsterdam. The company
chose to set up operations in the Netherlands and found a collaborative
and seasoned regulatory environment, coupled with a centralized hub of
talent from around the world.
Lemonade is a licensed insurance carrier, offering homeowners and
renters insurance in the US and contents and liability insurance in
Germany. Powered by artificial intelligence and behavioral economics,
Lemonade replaces brokers and bureaucracy with bots and machine
learning, aiming for zero paperwork and instant everything. As a
Certified B-Corp, where underwriting profits go to nonprofits, Lemonade
is remaking insurance as a social good, rather than a necessary evil.
Lemonade is currently available for most of the United States and
Germany, and continues to expand globally.
Stay in touch at @lemonade_inc or www.facebook.com/lemonade
About AXA Germany
With written premiums of EUR 10.7 billion (2018) and 9,038 employees,
AXA Konzern is one of the leading insurance companies and financial
services providers in Germany. The company provides comprehensive
solutions in the fields of private and company financial protection,
health insurance, Property and Casualty insurance and asset management.
The mindset and actions of the company are based on the customer and his
needs. AXA Germany is part of the AXA Group, one of the worldwide
leading insurance and asset management companies with 171,000 employees
serving 105 million clients in 61 countries. In 2018, AXA Group IFRS
revenues amounted to Euro 102.9 billion and IFRS underlying earnings to
Euro 6.2 billion. AXA Group had Euro 1,424 billion in assets under
management as of December 31, 2018.
Stay in touch at www.axa.de/medien,
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