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Lemonade Launches World’s First ‘Open Source’ Insurance Policy

In View Summary

Lemonade the well-known community-based insurtech which offers homeowners and renters insurance powered by A.I and informed by behavioral economics announced the launch of an open source insurance policy called Policy 2.0 which facilitates the production of short-form insurance policies. to be rewritten into simple. The new feature is open to edits on Github and accessible under the GNU’s Free Documentation License.

Lemonade’s goal is to make insurance “simple, fair, and approachable to everyone

Currently, Policy 2.0 is in English and aimed at US renters, however, this open-source initiative will expand to cover other lines, legal jurisdictions, and languages. Recently Lemonade raised $120mn and announced that it will take Lemonade global.

Shai Wininger, Chief Lemonade Maker, and co-founder of Lemonade has said of this initiative: “Making insurance simple, fair, and approachable to everyone should be a shared goal of the entire industry. As avid open source evangelists, we believe that bringing consumers and professionals together in an effort to co-create an insurance policy, will result in a better and fairer insurance product for the 21st century.

Reported Benefits

Benefits to Customers:

  • Customer engagement
  • Improved trust and lesser confusions
  • Innovative products and services

Benefits to the Insurer:

  • Less processing time
  • Improved products and services
  • Increased customer reach

The Digital Insurer's View

To increase penetration, it is important to break the trust and understanding barriers that currently exists amongst customers in the insurance industry. Lemonade is making this change this with its ‘open source’ insurance policy which could mark a new beginning in an industry known for its penetrable contracts. However, regulatory support will also in need in addition to the time it will take for consumer acceptance.


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