Lending Works sold to alternative investment manager Global Fintech Funding Declined during COVID-19, Investors Now Focused on Mature Fintechs like...
Insurtech startup Lemonade announced “We’re opening up the Lemonade platform to the world!” says Shai Wininger, co-founder of Lemonade; the new open API will allow Lemonade to be seamlessly integrated with commerce websites, financial advisor apps, property management companies, payment software processors, IoT [internet of things] platforms and more as Banking Technology reports. Source.
Provides details on announcements from both companies and compares the offerings; PolicyGenius has entered the rental insurance market, launching its rental insurance product this week; also this week Lemonade announced expansion of its rental and homeowners insurance to New Jersey. Source
Lemonade provides part two of its 2016 Transparency Chronicles with statistics on its first quarter in the market; notes some positives and negatives including confusion around marketing the firm as a peer-to-peer insurance provider; says they are an artificial intelligence and behavioral economics company or a tech company doing insurance; highlights from the first quarter include: average homeowners and renters premiums of $165.5; 123 homeowners policies; 63% of customers 25 to 34 years old; males accounting for the majority of customers at 76.5%; a claim managed in three seconds by artificial intelligence. Source
Lemonade has raised $34 million in a Series B funding round led by General Catalyst; the Series B round brings the total funding to $60 million; the company plans to use the funding for state expansion with California as its next target. Source
Insurtech leader Lemonade has filed to go public; the company is backed by an A-list group of venture capitalists including...
ZhongAn starts trading tomorrow and raised $1.5bn last week, valuing the group at up to $10bn; the IPO has begun pushing insurtech into the mainstream as the company has seen growing interest across the world; the use of AI & big data have been driving forces behind the company and a main reason for investor interest; this might help to give momentum to other insurtech firms like Lemonade and Oscar. Source.
Allianz has invested in Lemonade, an insurance startup powered by artificial intelligence and behavioral economics; Solmaz Altin, chief digital officer stated: "Allianz is committed to staying at the cutting edge of insurance. 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." Source
Insurtech firm Lemonade is expanding to 46 new states and the District of Columbia; launch in Washington, Wyoming and Mississippi will be delayed because of statutory wait times; firm will continue to focus on its main product which includes insurance for homeowners and renters. Source