Lemonade in bid to take on Europe

europe

US-based insurtech Lemonade has revealed plans to enter the European market.

Lemonade CEO Daniel Schreiber announced that the renters and contents insurance start-up plans to head to Europe, its first major market outside of the US.

According to Schreiber, “countless” people got in touch to ask the company to come to the continent. 

Schreiber said in a blog: “Europe, the birthplace of modern insurance, is one of the largest insurance markets globally, and is home to the two largest insurers worldwide – Axa and Allianz.

“Both are investors in Lemonade and dear friends. We’re kinda hoping they’ll see our European launch as a boost to their investment, rather than as the challenge to their business we hope it becomes.

“Beyond its insurance bonafides, Europe is home to thriving tech ecosystems, and to countless people who wrote to ask that we come to their country.”

British CEO Schreiber has made no big secret of its plans to expand its reach outside the US. Last year he told Post that the firm was mulling international expansion.

Schreiber and co-founder Shai Wininger ranked 28th in the Post Power List 2018, while Lemonade came in fourth in this year’s Post Insurtech 100.

The insurtech picked up $120m of funding in a Softbank-led round late last year.

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