Lemonade Launches in the UK

Customers can now protect their things and file claims instantly, from anywhere, on any device and get paid in seconds

Lemonade (NYSE: LMND), the insurance company powered by AI and social impact, today launched in the United Kingdom. Residents across the UK can now get Lemonade Contents insurance instantly, from anywhere, on any device, as well as file claims and get paid in seconds.

Today’s launch follows Lemonade’s previous launches in France, Germany, and the Netherlands.

Founded in 2015, Lemonade launched its flagship renters insurance in the United States in 2016, where it is now ranked one of the top renters insurance products in the market. With today’s launch Lemonade brings the same instantaneous and delightful experience to residents in the UK. Customers can get a quote, purchase contents insurance, file a claim, and get paid - all within seconds.

As a Public Benefit Corporation and Certified B-Corp, Lemonade has social impact baked directly into its business model. Through its Giveback program, the company donates leftover premiums to non-profit organizations selected by its customers, supporting causes like equality, climate, and poverty.

Residents in the UK are now able to protect their belongings with Lemonade, featuring a Defaqto 5 Star Rating, starting at just £4 a month. Lemonade’s Contents insurance includes worldwide coverage for individual personal items of up to £2,000 each, total coverage up to £100,000, and no cancellation fees. Add-on coverage is also available for those who want extra protection for theft and loss-related incidents, accidental damage to mobile devices as well as expert help through legal protection.

“Insurance as we know it hails from the UK, as do I. So both professionally and personally bringing Lemonade to the UK is a homecoming of sorts,” said Daniel Schreiber, Lemonade co-CEO and co-founder. “We believe the millions of local renters will appreciate what Lemonade has to offer. After all, who doesn’t want instant, transparent, personalized, and mission-driven insurance?”

Lemonade is entering the UK market in a long-term, strategic partnership with leading UK insurer, Aviva.

“We’re excited to be appointed as the long-term partner for Lemonade in the UK. We share a common outlook for how digital, AI and data can transform customer experiences, and the role insurers can play in building stronger communities,” said Adam Winslow, CEO of Aviva UK & Ireland General Insurance. “By joining forces we can ensure compelling propositions reach a broader range of customers, including renters, an under-served yet growing segment of the UK insurance market. In our 325 year history we have adapted and thrived in a changing world and our partnership with Lemonade is a marker of our intent to continue just this.”

“Pairing Lemonade’s strengths with Aviva's promises to deliver an insurance that is digitally native, yet rooted in the birth of modern statistics in the 1700s. It’s the best of both worlds, giving people a refreshing experience backed by a company they’ve known and trusted for years,” added Schreiber.

Lemonade Insurance NV is regulated by the Financial Conduct Authority (FCA) and subject to limited regulation by the Prudential Regulatory Authority (PRA) in the UK.

Residents in the UK can now buy a new policy through the Lemonade app or online at lemonade.com/uk.

About Lemonade

Lemonade offers renters, homeowners, car, pet, and life insurance. Powered by artificial intelligence and social impact, Lemonade’s full stack insurance carriers in the US and the EU replace brokers and bureaucracy with bots and machine learning, aiming for zero paperwork and instant everything. A Certified B-Corp, Lemonade gives unused premiums to nonprofits selected by its community, during its annual Giveback. Lemonade is currently available in the United States, Germany, the Netherlands, France, and the UK, and continues to expand globally.

Follow @lemonade_inc on Twitter for updates.

About Aviva

Aviva is the UK’s leading Insurance, Wealth & Retirement business, operating in the UK, Ireland and Canada with additional international investments in Singapore, China and India. With 18.5 million customers, Aviva helps customers make the most out of life, plan for the future, and have the confidence that if things go wrong it will be there to put it right. Aviva has been taking care of people for 325 years, in line with the company’s purpose of being ‘with you today, for a better tomorrow’. In 2021, Aviva paid £30.2 billion in claims and benefits to its customers.

Aviva is a market leader in sustainability. In 2021, the company announced its plan to become a Net Zero carbon emissions company by 2040, the first major insurance company in the world to do so. This plan means Net Zero carbon emissions from its investments by 2040; setting out a clear pathway to get there with a cut of 25% in the carbon intensity of investments by 2025 and of 60% by 2030; and Net Zero carbon emissions from its own operations and supply chain by 2030. Find out more about Aviva’s climate goals at www.aviva.com/climate-goals and sustainability ambition and action at www.aviva.com/sustainability.

For more details about Aviva, the business, and how the company helps customers, visit www.aviva.com/about-us. The Aviva newsroom at www.aviva.com/newsroom includes links to spokespeople images, podcasts, research reports and news release archive. You can follow @avivaplc on Twitter, Aviva on LinkedIn, @avivaplc on Instagram, and find the latest corporate films from Aviva on the company’s YouTube channel.

FORWARD LOOKING STATEMENTS

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including express or implied statements regarding the success of our product launch in the UK and partnership with Aviva. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: Our history of losses and the fact that we may not achieve or maintain profitability in the future; our ability to retain and expand our customer base; the fact that the “Lemonade” brand may not become as widely known as incumbents’ brands or the brand may become tarnished; the denial of claims or our failure to accurately and timely pay claims; our ability to attain greater value from each user; the novelty of our business model and its unpredictable efficacy and susceptibility to unintended consequences; the possibility that we could be forced to modify or eliminate our Giveback, which could undermine our business model; the examinations and other targeted investigations by our primary and other state insurance regulators that could result in adverse examination findings and necessitate remedial actions; our limited operating history; our ability to manage our growth effectively; the impact of intense competition in the segments of the insurance industry in which we operate on our ability to attain or increase profitability; the unavailability of reinsurance at current levels and prices, which could limit our ability to write new business; our ability to renew reinsurance contracts on comparable duration and terms to those currently in effect; our exposure to counterparty risks as a result of reinsurance; the loss of personal customer information, damage to our reputation and brand, or harm to our business and operating results as a result of security incidents or real or perceived errors, failures or bugs in our systems, website or app; our actual or perceived failure to protect customer information and other data, respect customers’ privacy, or comply with data privacy and security laws and regulations; our ability to comply with extensive insurance industry regulations and the need to incur additional costs or devote additional resources to comply with changes to existing regulations; our exposure to additional regulatory requirements specific to other vertical markets that we enter or have entered, including auto, pet and life insurance, and the need to devote additional resources to comply with these regulations; the ability of Lemonade to successfully integrate Metromile’s operations, product lines and technology; the ability of Lemonade to implement its plans, forecasts and other expectations with respect to Metromile’s business after the completion of the transaction and realize additional opportunities for growth and innovation; the ability of Lemonade to realize the anticipated synergies from the proposed transaction in the anticipated amounts or within the anticipated timeframes or costs expectations or at all; the ability to maintain relationships with Lemonade’s and Metromile’s respective employees, customers, other business partners and governmental authorities; and the other risks, uncertainties and important factors contained and identified; and our inability to predict the lasting impacts of COVID-19 to our business in particular, and the global economy generally. These and other important factors are discussed under the caption “Risk Factors” in our Form 10-K filed with the SEC on March 1, 2022 and in our other filings with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s beliefs as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

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