American insurance company Lemonade has expanded its footprint in the European market by launching operations in the Netherlands.

This marks the company’s entry into the second European country after Germany last year.

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The consumers in the Dutch market will now be able to avail contents and liability insurance instantly, and file claims and get paid in instantly using the Lemonade app.

Furthermore, they will be offered Policy 2.0, which according to the company is a new insurance policy designed for the 21st century.

This policy covers against damages to properties, and events directly leading to damage or injury to others including fire, burglary, robbery, vandalism, and water damage.

Lemonade CEO and co-founder Daniel Schreiber said: “We chose the Netherlands for our next European launch due to the many requests we received from Dutch consumers asking us to come there next.

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“Our unique insurance policy is not only the most transparent, affordable, and mission-driven in the market, but it’s also crafted specifically for Dutch consumers, with things such as bicycle theft coverage and more.”

Since the roll out of its homeowners and renters insurance in New York in late 2016, Lemonadeis said to be one of the fastest-growing insurance companies.

The company charges a flat fee for its services, and gives remaining underwriting profit to nonprofits, as part of its annual Giveback.

Earlier this year, a new product line for pets was announced the company.

It is licensed and supervised by the Dutch Central Bank (DNB) and holds its European headquarters in Amsterdam.