Lemonade is getting into pet insurance with coverage for cats and dogs. CEO Daniel Schreiber explained that dog ownership is one of many signals used by Lemonade to determine homeowner and renter insurance quotes, as dogs can sometimes play a factor in the risk-assessment of a home, such as deterring burglary.
“Health insurance for pets dates back to over 100 years ago,” said Schreiber. “It started with horses in the Netherlands, and the heir to that pet insurance is actually car insurance. Horses were a mode of transportation, and the insurance was meant to protect you if something happened to that mode of transportation. But pets are now members of the family.”