New York-based insurtech company Lemonade has announced the launch of homeowners insurance in France in partnership with BNP Paribas Cardiff.
Millions of homeowners can now purchase extensive coverage for their homes and belongings. The risks are covered by both BNP Paribas Cardiff and Lemonade Insurance NV, which act as co-insurers for this offer.
The launch builds on Lemonade’s entry into France in December 2020, when it began offering renters insurance powered by artificial intelligence (AI) to protect residents’ belongings.
Lemonade’s European operations will take a major step forward in 2023, with the launch of homeowners insurance across France supporting the company’s continued growth as it expands globally.
BNP Paribas Cardiff France can now offer this fully digital home insurance to its distribution partners, while Lemonade has the experience of an insurance company with a widely recognized brand that has been operating in the French market for 50 years. Lemonade said it will benefit from.
Lemonade’s homeowners insurance is specially created for French customers and offers instant coverage from €10 per month through the Lemonade app. In addition to industry-based coverage that includes fire, water damage, rebuilding costs, and civil liability, this policy also offers a series of add-ons that provide full coverage and flexibility, including:
- School insurance: Coverage is extended to children up to the age of 18 and provides compensation in the event of an accident during school or extracurricular activities.
- Legal protection: We assist our clients with disputes with third parties regarding a variety of everyday situations (real estate, retail, work-related, online reputation, etc.).
- Theft outside the home: Provides protection in case someone steals your belongings while you are out.
“The European market was our fastest growing business last year,” Lemonade co-founder and CEO Daniel Shriver said in a statement. “We are currently transitioning from a single insurer to a multi-insurer in Europe. Coupled with successful partnerships with trusted and leading brands such as BNP Paribas Cardiff, the next steps for our European business are: I’m excited about the chapter.”
Lemonade’s European headquarters are in Amsterdam. The company is licensed and supervised by the Dutch Central Bank (DNB) and operates in France under the European Services Freedom Regime (which allows licenses throughout the European Union).
French residents can now purchase new insurance through the Lemonade app (lemonade.com/fr) or BNP Paribas Cardiff (cardif.fr).
About lemonade
Lemonade offers tenant and homeowner insurance in France, contents and personal liability insurance in Germany and the Netherlands, and contents insurance in the United Kingdom. We also serve homeowners, renters, cars, pets, and household goods across the United States.
Photo: Half-timbered houses of Petite France in Strasbourg, France.
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