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American insurance company Lemonade launches in Germany

Lemonade Founders: Shai Wininger and Daniel Schreiber

Lemonade launched its first European country today. Consumers in Germany will be able to get contents and liability insurance instantly, anytime, and from any device – and they can file claims and get paid in seconds.

The company is founded by tech veterans Daniel Schreiber and Shai Wininger. Powered by AI, Lemonade accepts a flat fee unlike traditional operators in the insurance market and the remaining underwriting profits are given to non-profit organisations.

The company’s expansion in its first major market in Europe – Germany, showcases the company’s growth. The company also launched Policy 2.0, the first of its kind, consumer-friendly, short, easy to understand and transparent document; a departure from the dense and dated policies available.

Lemonade has partnered with AXA Germany to share insurance related risks and to connect the market expertise and broad networks of a global leader with Lemonade’s business model and instant everything technology.

“Rethinking insurance from a customer’s perspective is key to our mission. Therefore, AXA fosters self-driven innovation and partnerships more than ever. Our cooperation with Lemonade is strategically oriented, with reinsurance representing the first step in this direction,” said Alexander Vollert, CEO AXA Germany.

Lemonade is licensed and supervised by the Dutch Central Bank (DNB) and has established its European headquarters in Amsterdam. The company chose to set up operations in the Netherlands and found a collaborative and seasoned regulatory environment, coupled with a centralized hub of talent from around the world.

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