Lemonade Inc. has picked Bestow Inc. to help it offer life insurance.
Lemonade is a New York-based insurer that started out by selling products like renters insurance and homeowners insurance through mobile devices.
In June 2020, Lemonade stated in documents it filed with securities regulators, that it wanted to start selling life insurance, pet insurance, and other products that might appeal to consumers who are moving into new homes.
Lemonade now has teamed up to add a Lemonade Life section to its website. It uses an “application programming interface,” or web button, from Bestow to sell term life insurance.
“No medical exams” Lemonade says over the “check our prices” button. “Everything’s instant. Loved by everyone. Starting at $9/mo.”
The Bestow Agency LLC arm is acting as the insurance producer in charge of the Lemonade Life operation, according to the notes at the bottom of the life sales page.