{"id":209,"date":"2017-01-10T15:55:22","date_gmt":"2017-01-10T15:55:22","guid":{"rendered":"\/blog\/?p=209"},"modified":"2023-01-24T12:12:58","modified_gmt":"2023-01-24T12:12:58","slug":"lemonade-transparency-chronicles","status":"publish","type":"post","link":"https:\/\/www.lemonade.com\/blog\/lemonade-transparency-chronicles\/","title":{"rendered":"The Lemonade Transparency Chronicles"},"content":{"rendered":"

2016 was an incredible year for Lemonade. We ended the year as an insurance carrier licensed by the most exacting regulators, reinsured by the most trusted names, and funded by the most respected VCs. More exciting yet, our A.I. has been selling policies<\/a> and paying claims<\/a> to a growing stream of enthusiastic consumers, 80% of whom never bought insurance before!<\/p>\n

None of that was true a year ago.<\/p>\n

We also made progress in our mission to transform insurance from a necessary evil into a social good<\/em>: becoming a Public Benefit Corporation, receiving B-Corp certification<\/a>, and accruing far more for nonprofits<\/em> than for our own profits<\/em>.<\/p>\n

\"transparency<\/p>\n

Lemonade\u2019s Full Monty<\/h3>\n

Want the details? We will be revealing all in our Transparency Chronicles. In the next few weeks, we\u2019ll post three expos\u00e9s on different aspects of our business in 2016.<\/p>\n

Next week my co-founder Shai will share fascinating metrics and insights in our Lemonade Startup Report<\/a>: conversion rates, growth dynamics and suchlike (a worthy follow-on to his report on our first 48 hours).<\/p>\n

The following week, John Peters, our Chief Underwriting Officer, will share insurance data in our Lemonade Insurance Report<\/a>: loss ratios, risk distribution, and licensing progress. It\u2019s in plain-English and accessible to tech and fintech enthusiasts no less than insurance buffs.<\/p>\n

In 3 weeks Dan Ariely, our Chief Behavioral Officer, will release our Social Impact Report. Dan will share statistics on our Giveback program<\/a>, the causes<\/a> we\u2019re working with, and how the numbers are looking for our double-bottom-line business.<\/p>\n

\"Lemonade

Team Lemonade reviewing the 2016 stats and metrics<\/p><\/div>\n

Why the full frontal?<\/h3>\n

One of the benefits of being a private company is that your steps and missteps are kept private. That\u2019s important: companies want to keep \u2018steps\u2019 from competitors, and \u2018missteps\u2019 from everyone. So why are we doing the full-frontal?<\/p>\n

Well, I guess you could say we\u2019re overcompensating.<\/p>\n

When you play the word-association-game with the \u2018insurance\u2019, words like \u2018trust\u2019 and \u2018transparency\u2019 never come up. We\u2019re determined to change that. But to earn that trust we have to go way, way out of our comfort zone. We have to be nakedly transparent. That\u2019s the only way to make insurance trusting and trustworthy. Trust can\u2019t be demanded, it has to be earned. I\u2019m sure you get that.<\/p>\n

Please subscribe<\/a> to these behind-the-scenes expos\u00e9s, share them far and wide, and help us remake insurance as instantaneous, unconflicted, and downright delightful.<\/p>\n

Happy 2017!<\/p>\n","protected":false},"excerpt":{"rendered":"

2016 was an incredible year for Lemonade. Want the details? We will be revealing all in our Lemonade Transparency Chronicles.<\/p>\n","protected":false},"author":11,"featured_media":212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,12],"tags":[],"puppies_section":[],"class_list":{"0":"post-209","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"category-transparency","9":"post-hentry"},"acf":[],"yoast_head":"\nThe Lemonade Transparency Chronicles | Lemonade Blog<\/title>\n<meta name=\"description\" content=\"When you play the word-association-game with the \u2018insurance\u2019, \u2018trust\u2019 and \u2018transparency\u2019 never come up. We\u2019re determined to change that. But to earn that trust we have to go way, way out of our comfort zone. We have to be nakedly transparent. 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