Cody W

NEW YORK, NY

Insured since Mar 2018

COFFEE ORDER

Flat white

ALBUM/PLAYLIST

60s / 70s / 90s

NYC SPOT

Transmitter Park

FAVORITE WEBSITE

NY Times

FAVORITE QUOTE

"Become like water, my friend." - Bruce Lee

FAVORITE THING ABOUT LEMONADE

Its innovative business model

What comes to mind when you hear ‘insurance’?

Security, but do I really need it?

What about ‘Lemonade’?

Innovative!

How’d you hear about Lemonade?

I first read about Lemonade in an article in The Economist. I did some more research, and really liked the business model with aligned incentives. It was cool, and a clever use of technology. That article made me want to support Lemonade.

So how was your experience signing up for Lemonade?

There was definitely an element of skepticism, like is this legit? Because with Lemonade’s interface, it was super slick and easy to walk through, so it seems like it can’t be possibly be sophisticated enough for homeowners insurance. My mortgage agent was also skeptical.

How did you get over that initial skepticism?

We did research, and after reading so much about Lemonade, we decided Lemonade was definitely legit.

How was the price was compared to other insurance companies?

I think the quote for Lemonade’s homeowners insurance coverage was comparable with the others. Maybe slightly cheaper, but I definitely didn’t make it my decision based on price.

What’d you base it on?

This idea that this is an interesting business model, and an interesting way of incentivizing people not to make false insurance claims. And if Lemonade’s using technology that doesn’t require expensive employees or offices, they should use more of the savings for claims.

Have you ever talked to your friends about Lemonade?

When anyone – even not a friend – mentions insurance or moving to a new apartment, I always mention Lemonade. I just found out the person sitting next to me at TED uses Lemonade! So she and I did a little high five.