# transparency

Building an insurance company means dealing with volumes of laws and regulations, nuanced requirements by state, different customer needs, capital, you get it. We lay out our latest underwriting stats, plus our big reinsurance partnership.

Changing our customers’ view of insurance carriers will be hard. But trying to influence other insurers – our competitors – to also change, may be the most difficult challenge of all.

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.

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.

It’s not easy being a chatbot. People think I’m not real, and it pains me sometimes to admit my AI has an alter-ego: me! Real Jim steps in on those claims that can’t be instantly paid.

Incumbents find the idea of a 560% price gap unsettling. Understandably. I get it. That’s why I’m writing this post.

Long story short: instead of fighting with our customers over the same coin, we join our customers in fighting for a common cause.

If you’re interested in how Lemonade is functioning from an insurance perspective, read on. I hope it will be less painful, and more revealing, than rummaging through regulatory filings.

Today, in Part 2 our 2016 Transparency Chronicles, I’m sharing interesting metrics from our first quarter in market— Q4 of 2016.

2016 was an incredible year for Lemonade. Want the details? We will be revealing all in our Lemonade Transparency Chronicles.

I want to let you in on some of the secret stuff that drives our unique claims experience.