AI insurtech Lemonade expands into pet insurance

Artificial intelligence-powered insurtech company Lemonade, which offers homeowners and renters insurance products in the US and Europe, has announced its plans to expand into pet insurance.

The New York-based company is launching a new product line designed exclusively for cats and dogs.

The pet health insurance product is expected to roll out within a few months, pending regulatory approval.

“Many at Team Lemonade, myself included, are devoted pet parents, so we decided to build the dream pet health insurance product for our best friends,” said Shai Wininger, COO and co-founder of Lemonade.

“Many of us think of our pets as family members, yet so few of us take the important step of getting them health insurance. We challenged ourselves to create a product that will close this gap and make pet health insurance affordable and accessible,” he added.