(Photo credit: Jean-Luc 2005.)
Startup insurance carrier Lemonade has announced that it is now offering its homeowners and renters insurance products in California. The company launched in New York State in Sept. 2016 and began doing business in Illinois in April 2017.
“Most Americans view insurance as a necessary evil, rather than a social good. That’s something Lemonade is determined to change,” comments Shai Wininger, president, Lemonade. “Expanding to California is a key milestone on Lemonade’s journey. The tech capital of the world deserves insurance powered by AI, and the people of California deserve to see insurance underwriting profits funding their nonprofits.”
Lemonade reported in Dec. 2016 that it had filed for licensing in 46 states and the District of Columbia, with the announced objective of making its products available to 97 percent of the U.S. population before the end of 2017. A company statement says opening for business in California “puts Lemonade on track to reach the majority of the U.S. population in a matter of months.”