Insurtech start-up Lemonade plans to expand operations across US
Insurtech start-up Lemonade plans to invest $60m of venture capital to file for licences to sell homeowner and renter insurance in 47 states, three months after its New York launch. The planned expansion of the company's quick and cost-effective servicing of policyholders through a web portal and AI-enabled mobile app attracted $34m from venture capital firms Google Ventures, General Catalyst and Sequoia in its third round of financing.

Lemonade is betting that its fast, AI-enabled process will appeal to millennials who are want a no-hassle, Amazon-like experience when buying insurance. (Photo: iStock).

A technology start-up that’s bringing innovation to the property and casualty insurance market is going nationwide.

Lemonade, launched in 2015 with much fanfare, recently announced that it has filed for licenses to sell homeowner’s and renter’s insurance in 47 states.