(Image source: Allianz-Arena.com.)
Allianz (Munich) has announced that it has made a strategic investment in Lemonade (New York), the startup insurance company which describes itself as powered by artificial intelligence and behavioral economics. Allianz did not disclose the details of the investment.
“Allianz is committed to staying at the cutting edge of insurance,” comments Solmaz Altin, Chief Digital Officer, Allianz SE. “We follow the insurtech space closely and globally, and have seen nothing to match Lemonade in terms of technology, user experience and business model innovation. We’re thrilled to become a stakeholder in Lemonade, and will do what we can to accelerate their rapid expansion throughout the US and beyond.”
No Competitive Business
“Allianz is rightly regarded as one of the most forward thinking companies in our industry,” said Daniel Schreiber, cofounder and CEO at Lemonade. “Despite their unparalleled reach and resources, Allianz has no competitive business with Lemonade, and we look forward to deepening our relationship with them in the years to come.”