The Hanover Insurance Group says its commercial lines customer service center can now service added specialty lines coverages with management liability. Lemonade will sell renter insurance via a peer-to-peer marketplace that helps consumers find room rentals, sublets and roommates, thanks to a new partnership. *** The Hanover Insurance Group has expanded its commercial lines customer service center to service additional specialty coverages within management liability. By making the change, the company’s agent partners can better serve their clients and improve agency efficiency by accepting a broader array of small businesses into the service center. Previously, only standard commercial lines and some specialized coverages were serviced, The Hanover said. With this expansion, The Hanover services full accounts, providing a differentiator to its agents. The Hanover’s service center expansion includes coverages such as directors and officers, employment practices liability, fiduciary liability, fidelity and crime, kidnap and ransom, and cyber and security. *** Insurance startup Lemonade will partner with Roomi, a peer-to-peer marketplace that helps consumers find room rentals, sublets and roommates. Their deal will allow Roomi to offer renters insurance online. Lemonade, which relies on artificial intelligence and behavioral economics, takes a flat fee and pays claims extremely fast, giving any remaining money to charities. Roomi officially launched in 2015 and today has over 1.1 million registered users. Its website and app is available in major cities across the U.S. and Canada. Lemonade is a licensed insurance carrier that offers homeowners and renters insurance, aiming for zero paperwork and instant results. It is currently available in 11 states and licensed in 17 more, with plans in play for a global expansion. Sources: The Hanover, Lemonade
New York-based online insurance company Lemonade has partnered with peer-to-peer rental accommodation marketplace Roomi, in a bid to offer the latter's customers rental insurance. Lemonade is available in more than 1.1 million US states and licensed in a further 17, while Roomi's app is available in the US and Canada, and the company claims to have 11 registered users. Lemonade providers renters insurance for a flat fee and uses technology to help pay claims in a speedy fashion.