US-based startup targets Europe for first global expansion

By Bruno Reis

The New York City-headquartered insurance startup, Lemonade, has revealed it is targeting Europe as the first location for international expansion.

The company, which has received funding from Softbank, works with home and renters insurance.

Lemonade uses artificial intelligence (AI) and chatbots to power its app, allowing the firm to customise its products for its customers.

The startup, which was established in 2016, aims to reduce the time it takes to receive coverage from insurers by removing paperwork and human agents.

“Whether in Chicago, Paris, or Singapore, today’s consumers listen to music on Spotify, ride with Uber, and stay with Airbnb. Great digital brands don’t stop at the water’s edge,” stated Daniel Schreiber, CEO of Lemonade.


“That’s why going global feels so natural for us: consumers are increasingly cosmopolitan, socially aware, and tech-native – everything Lemonade was built to be.”

A date for the expansion has not been set, but Lemonade claims the move will be “soon”.

“Nominally, the U.S. is a single country, but in terms of its regulatory structure its actually 50 different countries, every state is independent,” Daniel Schreiber informed CNBC.

The insurer raised $120mn in a funding round last year led by Softbank, the Japanese financial institution.


Featured Articles

Meet the COO: Brook Sims of MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Best business books to improve leadership strategy

From strategic guides to inspiring CEO memoirs, these new books dish up plenty of principles, strategies, and anecdotes to help you become a better leader

Shoplazza founder and CEO Jeff Li, ex Baidu, on leadership

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

The office shifts to new way of working – workplace special

Leadership & Strategy

Trailblazer: Clorox's DEI leader Shanique Bonelli-Moore


The inspirational CEO story – Dean Forbes of Forterro

Leadership & Strategy