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US-based Lemonade has expanded its insurance coverage choices in France with the launch of a brand new owners insurance coverage product, in alliance with BNP Paribas Cardif.
This transfer goals to offer French prospects with a totally digital insurance coverage expertise, beginning at €10 ($10.85) a month.
Lemonade’s owners coverage consists of commonplace protection choices and a spread of add-ons for complete safety.
The brand new owners insurance coverage proposition is tailor-made to the particular wants of French prospects, who can acquire protection by means of the Lemonade app.
It consists of important protections similar to hearth and water injury, alongside distinctive add-ons like faculty insurance coverage for youngsters and theft protection outdoors the house.
BNP Paribas Cardif France will now be capable to provide Lemonade’s digital residence insurance coverage to its distribution community.
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In the meantime, Lemonade expects to profit from the established presence of BNP Paribas Cardif, which has been serving the French marketplace for 5 a long time.
Based on Lemonade, the dangers lined by the brand new owners insurance coverage product can be shared between Lemonade Insurance coverage and BNP Paribas Cardif, performing as co-insurers.
Lemonade CEO and co-founder Daniel Schreiber stated: “The European market was our fastest-growing enterprise final 12 months. We at the moment are graduating from being a monoline to a multi-line insurer in Europe.
“Mixed with our thriving partnership with a trusted, prestigious model like BNP Paribas Cardif, we’re excited for this subsequent chapter for our European enterprise.”
Lemonade forayed into the French insurance coverage market in December 2020.
In February 2023, Lemonade and BNP Paribas Cardif teamed as much as provide renters insurance coverage to French prospects.
Lemonade’s presence extends past France and the US, with providers additionally accessible in Germany, the Netherlands and the UK.
The corporate has its European headquarters in Amsterdam.
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