US company Lemonade is many things at once. A unicorn, an insurtech and an innovative new presence on the German insurance market.
“We chose Germany for our first international launch because it combines a very traditional insurance sector with a very future-oriented, digital consumer base,” said Lemonade co-founder Shai Wininger.
Lemonade focuses on automation and AI as means of dramatically reducing the times needed to settle insurance claims. It can count on some heavyweight backing. German insurance giant Allianz and its French rival Axa, Google and Japan’s Softbank have all invested.
Part of the company’s creed is social responsibility. Customers are required to name a charity, to which Lemonade donates part of its excess profits. Among other things, this practice discourages clients from filing false claims.