AI IPO Lemonade Introduces Insurance For Pets

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Photo by Sharon McCutcheon via Pexels

Lemonade, an artificial intelligence chat-bot operated insurance company, has launched a program for U.S. pets.

The New York city-based insurer is currently covering dogs and felines only, offering to take care of the blood and urine screenings, ultrasounds, tomography, x-ray scans, lab work, out- and inpatient procedures, surgeries and more. Medication and prescriptions are included as well. The owners can also pick the Accident and Illness offer for instances of food poisoning or road traumas. The human customers of Lemonade receive a special discount if they are to cover their pets as well.

According to MarketWatch, Lemonade is, by far, the most successful new IPO of 2020. It provides U.S. customers with rental property and homeowners insurance and is also present in the Netherlands and Germany with content and liability insurance. Heavily relied on digital platforms, Lemonade uses AI and behavioral economics as a substitute for brokers. The insurer’s two chatbots, Maya and Jim, file and pay claims in mere seconds.

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