What Lemonade does
Lemonade Insurance Company is a licensed insurance carrier, offering homeowners and renters insurance powered by artificial intelligence and behavioural economics. By replacing brokers and bureaucracy with bots and machine learning, Lemonade promises zero paperwork and instant everything. As a certified B-Corp, Lemonade is remaking insurance as a social good, offering renters and insurance policies in many US states in addition to content and liability policies in Germany and the Netherlands. Lemonade is headquartered in New York City and was founded there in 2015.
Machine learning
By replacing brokers and bureaucracy with bots and machine learning, Lemonade promises zero paperwork and instant everything.
Behavioural economics
As a certified B-Corp, Lemonade is remaking insurance as a social good, offering renters and insurance policies in many US states in addition to content and liability policies in Germany and the Netherlands.
Why we invested
Traditional insurance companies collect profits from whatever premium dollars are left after paying claims and expenses. This insurance business model can create a conflict of interest between the insurance company and its customers.
Insurance was not an obvious place to innovate, and the industry had gone largely untouched by technology for more than a century. However, there are significant conflicts of interest and a lack of transparency that are prevalent throughout the industry.
A new technology enabled approach is needed to transform the industry from a necessary evil into a social good.
"You give us premiums and we invest them in good, rather than invest them in the kind of companies that can cause the very harms we purport to protect you from"
Daniel Schreiber
CEO