The artificial intelligence-powered coverage is now being sold in France through an expanded partnership.
The headline making home insurance company Lemonade, which is a digital coverage provider powered by artificial intelligence and social impact, recently announced that it has expanded its partnership with BNP Paribas Cardif and this has allowed them to start selling in France.
French property owners can now purchase Lemonade policies
Millions of property owners across France are now able to purchase extensive home insurance policies through Lemonade, a company known for a seamless digital experience from application through claims filing.
This latest launch is the next step in Lemonade’s entry into the country, which actually started three years ago, in December 2020. Since that time, it has been selling renters’ policies to cover the contents of a tenant’s home. That said, Lemonade made substantial progress in its European business last year, leading up to a natural launch of this new coverage type in France.
The French homeowners insurance business is expected to support further growth
The launch of the new coverage for French property owners is not only an expansion into the country and into Europe, but is also expected to support its ongoing global growth.
“The European market was our fastest growing business last year,” explained Lemonade co-founder and CEO Daniel Schreiber. “We’re now graduating from being a monoline to a multi-line insurer in Europe. Combined with our thriving partnership with a trusted, prestigious brand like BNP Paribas Cardif, we’re excited for this next chapter for our European business.”
Lemonade partnered with BNP Paribas Cardif more than a year ago. Since that time, it has been growing its renters’ insurance offerings throughout France. That said, the partnership also connected Lemonade’s innovative approach within the industry with BNP Paribas Cardif’s extensive advisory expertise. This has made it possible to offer new types of coverage based on the profound experience of an insurer that has been operating in that market for half a century.
Designed specifically for France
The homeowners insurance Lemonade is offering in France has been specially designed for that market. Moreover, with the company’s app, it is possible to obtain coverage instantly, with premiums starting at €10 per month.
