Lemonade, the insurance company powered by AI and behavioral economics, today announced a new product line for an entirely new customer - the four-legged kind. Early registration is now open, and Lemonade’s pet insurance is expected to launch within a few months, pending regulatory approval.
The new insurance product, designed exclusively for cats and dogs, will be based on the same principles as the company’s #1 rated homeowners and renters products: a hassle-free digital experience with lightning-fast claim payments, best-in-class customer service, and a donation of leftover premium to charitable causes chosen by customers.
“Many at Team Lemonade, myself included, are devoted pet parents, so we decided to build the dream pet health insurance product for our best friends,” said Shai Wininger, COO and co-founder of Lemonade. “Many of us think of our pets as family members, yet so few of us take the important step of getting them health insurance. We challenged ourselves to create a product that will close this gap and make pet health insurance affordable and accessible.”
More than two-thirds of Americans are pet parents, and in the past decade, spending on pets has nearly doubled and is now estimated at over $70 billion annually in the United States alone.
Lemonade’s new pet product is slated to launch later this year. To register for early access and get a sneak peek into the product visit lemonade.com/pet
Lemonade offers homeowners and renters insurance in the United States, and contents and liability insurance in Germany, through its full-stack insurance carriers. Powered by artificial intelligence and behavioral economics, Lemonade replaces brokers and bureaucracy with bots and machine learning, aiming for zero paperwork and instant everything. A Certified B-Corp, Lemonade gives underwriting profits to nonprofits selected by its community during its annual Giveback.
Lemonade is currently available for most of the United States and Germany, and continues to expand globally.
Stay in touch at @lemonade_inc