US insurtech giant Lemonade lands in the Netherlands after Germany

Artificial intelligence-driven company Lemonade, one of the best-funded insurtech startups which recently  forayed into the European market backed by AXA Germany, has landed in the Netherlands.

The US insurtech start-up has launched in another European country citing increase in customer demand. The company launched its contents and liability insurance product in Germany last year following a multi-year reinsurance agreement with AXA.

Explaining the reason for choosing to set up operations in the Netherlands, Lemonade said it was drawn by its "collaborative and seasoned regulatory environment, coupled with a centralized hub of multilingual talent".

Lemonade is licensed and supervised by the Dutch Central Bank (DNB), and has its European headquarters in Amsterdam.

The launch will enable customers in the Netherlands access to its Policy 2.0, that the company claims is a "short, easy to understand, and transparent document designed for ordinary people". The new policy will have additional features such as bicycle theft coverage, designed specifically for its Dutch consumers.

Lemonade was first launched in September 2016 by Daniel Schreiber and Shai Wininger as a licensed insurance carrier offering homeowners and renters insurance.

Schreiber, co-founder and CEO, Lemonade, commented: “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. 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.”