NEW YORK, February 9, 2016 /PRNewswire/ --
Lemonade, the world's first P2P insurance company, announced today a lineup of top-tier global reinsurance partners, guaranteeing peace of mind for Lemonade customers.
Some of the largest and most trusted names in the industry - Berkshire Hathaway's National Indemnity, Everest, Hiscox, Munich, Transatlantic and XL Catlin - have all agreed to reinsure Lemonade. They include two of the leading syndicates at Lloyd's of London.
"We're proud to support Lemonade's creation of a fast, simple, and consumer driven insurance platform," said Mike McGavick, CEO of XL Catlin. "Consumer trust in the insurance system is at the heart of the insurance business, and is essential to the success of any new venture. With this collection of leading reinsurers, Lemonade's customers will know this innovative venture is backed by some of the best and most established in the industry."
Lemonade set records with its initial funding by Sequoia and Aleph, followed by its announcement that a cadre of senior insurance executives had jumped ship to Lemonade. With Berkshire Hathaway's National Indemnity and Lloyd's of London backing Lemonade, the stage is now set for Lemonade's consumer launch in the coming months.
"For insurance to provide true peace of mind you want to know your insurer is both willing and able to pay your claims." said Daniel Schreiber, CEO and co-founder, Lemonade. "Lemonade is the only insurer that doesn't make money by denying claims - so no one is more willing than us. With the backing of the world's foremost reinsurance names, no one is more able either."
Lemonade Insurance is set to be the world's first peer-to-peer insurance carrier. Lemonade harnesses the power of behavioral economics and the sharing economy, delivering to consumers an insurance experience that is instantaneous, unconflicted, and downright delightful. Stay up to date at http://www.lemonade.com and follow us on Twitter @lemonade_inc