Lemonade is now doing business in the Netherlands, its second European country after debuting in Germany nine months ago.
The New York-based InsurTech said that Dutch customers can purchase contents and liability insurance instantly and digitally at any time. As well, they can file claims and get paid through the Lemonade app in a process the company said will take seconds.
“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,” Daniel Schreiber, Lemonade’s co-founder and CEO, said in prepared remarks. “Our unique insurance policy is…also crafted specifically for Dutch consumers, with things such as bicycle theft coverage and more.”
The Lemonade product in the Netherlands is based on the company’s Policy 2.0, which is designed to be short, easy to understand and transparent so everyday people can understand it. It’s also available in Germany.
Lemonade is licensed and supervised by the Dutch Central Bank (DNB) and has its European headquarters in Amsterdam. The company said it chose to set up operations in the Netherlands for its “collaborative and seasoned regulatory environment, coupled with a centralized hub of multilingual talent.”
Lemonade launched its homeowners and renters insurance in New York in late 2016 and has since grown nationally in the United States. The company raised $300 million in April 2019 and was rumored to be gearing up for an initial public offering in late 2019. That didn’t happen. Asked about the issue for a Carrier Management story earlier this year, Schreiber declined to discuss IPO plans.