SoFi has been expanding its financial services and product offerings to surround its customers - it now will be providing homeowners and renters insurance through Lemonade and auto insurance through Root.
“Joining forces with SoFi is a natural evolution of our product and distribution channels,” said Shai Wininger, co-founder of Lemonade. “Both companies are driven by customer-centricity and transparency, building products that are simple, fast and delightful. Offering Lemonade’s insurance product to SoFi members is just the first phase of this collaboration between like-minded technology companies challenging the financial industry status quo.”