Stories About Life, Tech & Insurance

Changing our customers’ impression and view of insurance carriers will be crazy difficult. But trying to influence other carriers, our competitors, and colleagues in this space to also change may prove to be the most difficult challenge of all.

We’re here, NJ. We’re bringing renters and homeowners insurance driven by behavioral economics and social good to the home of Bruce Springsteen, Game of Thrones, and the best bagels in the US (sorry, NY!).

In the US, a male is 50% more likely to buy a home insurance policy than a female. But at Lemonade, a woman is 50% more likely to buy a policy than her male counterpart!

As a point of reference, the Fortune 100 give 0.08% of their revenues each year. So if year-one is anything to go by, Giveback has the potential to 100X that benchmark.

Three different policyholders did something that is pretty rare in an industry that often suffers from distrust between insurers and their customers.

It’s the craziest thing: in the State of New York, Lemonade appears to have overtaken Allstate, GEICO, Liberty Mutual, State Farm and the others in what is probably the single most critical market share metric of all.

We’ve learned so much in the eight months since our launch. We got some stuff wrong, iterated and improved, and hopefully we got some things right as well. Since then, things have gone a little nuts.

For a tech company, launching in the tech capital of the world is a huge thing. For an insurance company, launching the two largest economies in the US within a matter of months, is unheard of.