WeWork in Lemonade tie-up | Insurance coverage Enterprise

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WeWork, an organization that gives shared workspaces for tech startups, has shaped a partnership with insurtech Lemonade.

By means of the partnership, Lemonade will present renters’ insurance coverage to each new and current prospects of WeWork’s WeLive residential providing.

Prospects of WeLive have entry to a fully-furnished condo – with facilities similar to housekeeping, mailroom, and on-site laundry – via a versatile rental schedule, making it very best for these on the lookout for a short-term dwelling house.

WeLive is at present working in two places: New York and D.C. TechCrunch reported that each places signify over 400 items, and that WeWork has stated that each are almost at capability. The rental firm additionally revealed that it has plans to open a 3rd WeLive location in Seattle by Spring 2020.

Lemonade is a P&C insurance coverage startup recognized for its enterprise mannequin, whereby in retains a flat 20% of a buyer’s premium whereas utilizing the remaining 80% to pay claims and buy reinsurance. Any unclaimed premiums go to a nonprofit of the client’s selection. The insurtech additionally makes use of AI, similar to chatbots and machine studying, to supply insurance coverage insurance policies and to deal with claims.

This isn’t the primary time Lemonade has partnered with a rental supplier this 12 months; in April, the insurer collaborated with Roomi – a peer-to-peer market for room leases – to supply renters’ insurance coverage to customers of the web site.

Supply hyperlink – https://www.insurancebusinessmag.com/us/information/breaking-news/wework-in-lemonade-tieup-113338.aspx

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