Lemonade, the new US peer-to-peer insurance company has seen a strategic investment by Allianz, but neither party is prepared to reveal the amount.
Solmaz Altin at Allianz SE explains, "We are committed to staying at the cutting edge of insurance. We follow the insure-tech space closely and globally, and have seen nothing to match Lemonade in terms of technology, user experience and business model innovation. We have become a stakeholder in Lemonade, and will do what we can to accelerate their rapid expansion throughout the US and beyond."
Lemonade Insurance Company is a licensed insurance carrier, offering homeowners and renters insurance powered by artificial intelligence and behavioural economics.
Lemonade claims to be remaking insurance as a social good, rather than a necessary evil.
Ian Youngman, author of the Peer2peer Insurance report, comments "Allianz are supporting scores of techie companies around the world with the aim of picking their brains for ideas to import into their businesses. I believe that their interest in Lemonade is purely for the technology, not the dubious aim of sending profits to charities rather than back to customers or anti-insurance company clap- trap used in Lemonade marketing."
Learn all about P2P insurance, get the only dedicated market research report, Peer2Peer Insurance.
Peer To Peer Insurance the brand new market research report from insurance analyst Ian Youngman, is out now. The Peer To Peer Insurance report looks at the background, potential, problems, and regulation, as well as profiles of every known peer-to-peer platform.
Report author Ian Youngman comments, “Peer to peer insurance is very new and often misunderstood: with even many platform founders confused if they are an insurer, broker, techie idea - and whether they are legal or illegal. Regulators are taking notice - with some being very supportive and others preparing to close platforms they consider to be illegal. Peer to peer will stimulate change and make insurance quicker, simpler and more transparent. As in direct insurance decades ago, one or two of the newcomers will become national or international successes; while others will be taken over by existing insurers, and those insurers who ignore the lessons will die."
About The Author
Ian Youngman is an insurance writer and researcher who has published many market reports.
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