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Lemonade Launches in France

Lemonade , the insurance company powered by artificial intelligence and behavioral economics, launched in another European market today. Residents of France can now get renters insurance instantly, anytime, and from any device – as well as file claims and get paid in seconds through the Lemonade app.

Today’s launch marks the third EU country Lemonade has entered, following the Netherlands’ launch earlier this year, and Germany in June 2019.

Unlike the traditional insurance model, Lemonade keeps a flat fee for its operations, and gives unused remaining money to nonprofits, as part of its annual Giveback . The company launched its homeowners and renters insurance in New York in late 2016, and has been one of the fastest growing insurance companies ever since. The company went public on July 2, 2020, and is listed on the New York Stock Exchange under the ticker LMND.

Consumers rate Lemonade #1 for its insurance products across multiple platforms, citing the hassle-free digital experience with lightning-fast claim payments, best-in-class customer service, and an unconflicted business model.

“Home insurance is often legally required in France, which makes it a compelling opportunity for Lemonade’s next European country launch,” said Daniel Schreiber, Lemonade CEO and co-founder. “While the French insurance market is one of the most developed globally, we believe that Lemonade’s unique mix of value, values, and technology will stand out to the French consumer, offering the ability to get fast, personalized, and mission-driven insurance, with a few taps.”

The Lemonade product in France is crafted specifically with the French customer in mind, but will also embody what’s loved by Lemonade’s consumers elsewhere: a simple and delightful experience powered by artificial intelligence, instant claims, and the ability to support local and global charities through the company’s annual Giveback. Additionally, and similar to the German and Dutch products, the French product has the added benefit of being based on the company’s Policy 2.0, a new kind of insurance policy made for the 21st century.

Policy 2.0, currently available in France, the Netherlands and Germany, is a short, easy-to-understand, and transparent document designed for ordinary people (and not only for lawyers) - a consumer-friendly departure from the dense and dated policies that dominate the market.

Lemonade’s renters policy, which can be stopped and started at any time through the app, will start at just 4 € a month, and include features that provide more extensive coverage than the typical industry standard policy. For example, Lemonade’s policy will offer an optional coverage to cover against theft both in and outside of your home, worldwide - so if a customer’s locked bike is stolen from the street, the customer could claim the bike’s full replacement value in minutes from the comfort of the Lemonade app.

Lemonade is licensed and supervised by the Dutch Central Bank (DNB), and has its European headquarters in Amsterdam.

Residents of France can now buy a new policy through the Lemonade App or on lemonade.com/fr/en . Get updates on where Lemonade is launching next here .

To access the media kit, including visual assets, please click here .

About Lemonade

Lemonade offers renters, homeowners, and pet health insurance in the United States, contents and liability insurance in Germany and the Netherlands, and renters insurance in France, through its full-stack insurance carriers. Powered by artificial intelligence and behavioral economics, Lemonade set out to 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 for most of the United States, Germany, the Netherlands and France and continues to expand globally.

Stay in touch at @lemonade_inc or press@lemonade.com

Forward-Looking Statements

This press release contains 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 statements regarding the success of our product launch in France. 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 results of examinations by our primary state insurance regulator that could result in adverse examinations findings and necessitate remedial actions or give rise to regulatory orders requiring remedial, injunctive, or other corrective action; 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; 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 Quarterly Report on Form 10-Q for the period ended September 30, 2020 and our other filings with the Securities and Exchange Commission 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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