Lemonade

insurtechonline first insurance

FOUNDING YEAR: 2015
LOCATION: United States
Last Update: 19/01/2021

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About

Lemonade is a P2P, technology-first and legacy-free insurance carrier. The startup has raised $13 million in initial funding and attracted a line-up of reinsurance partners, including Berkshire Hathaway's National Indemnity and leading Lloyd’s of London syndicates.

MEDICI Analysis

Lemonade is a fully licensed insurance carrier offering insurance policies in property and casualty insurance market. The P2P insurance platform leverages artificial intelligence and behavioral economics to offer home, condo and renters insurance carrier for residents of California, New York, and Illinois. It enables users to interact with a chatbot to provide information about their coverage needs, location, and property details, and Lemonade uses artificial intelligence to create a personalized policy for each user. The company is currently available in eight US states, including California, Illinois, New Jersey, New York, and Texas; licensed in 17 more states and looks to expand globally. Recently, Lemonade was selected for the 2019 Forbes FinTech 50 startups list.

Focus

PRODUCTS & SERVICES

Lemonade offers a web-and-mobile-based P2P insurance platform for home, condo, and renters insurance.

REVENUE MODEL

The company follows a monthly-based subscription revenue model. It starts from $5 for renters insurance and $25 for homeowners insurance.

MAIN CLIENTS

Homeowners and renters.

PRIMARY PROBLEM SOLVED

The inherent conflict- the moral hazard- at the heart of the insurance industry.

COMMENT

The platform uses artificial intelligence technology to provide personalized policies and helps in the claim process for plan holders. Lemonade offers public API that provides access to businesses like real estate companies, mortgage originators, e-commerce sites, and lifestyle brands to offer Lemonade policies through their apps or websites. The API supports easy quoting, policy creation, and payment for homeowners, condo, and renters insurance policies.

Traction

VALUATION / MARKET CAP:

$2 B in 2019

VALUATION COMMENT:

Third-party data news sources reported that the company's valuation is more than $2.billion. (Apr. 2019)

COMPANY TYPE:

For Profit

STOCK EXCHANGE:

NYSE - New York Stock Exchange

REVENUE

$5.0M - $9.99M in 2017

REVENUE COMMENT:

The company had a revenue of $9.82Million in 2017

VALUATION AT IPO:

1600000000

MONEY RAISED AT IPO:

319000000

ACTIVE USERS COMMENT:

The company has more than 300k customers on the platform. (Feb. 2019)

TRACTION COMMENT:

The company is planning to expand to Europe and other states of the US. (Apr. 2019)

company provided insights
Web Traffic

Web Traffic

MONTHLY VISITS

868,245

AVERAGE VISITS (6 MONTHS)

764,891.83

MONTHLY VISITS GROWTH

26.73%

VISIT DURATION

168

VISIT DURATION GROWTH

33.52%

PAGE VIEWS VISIT

4.22

PAGE VIEWS VISIT GROWTH

6.04%

BOUNCE RATE

63.38%

BOUNCE RATE GROWTH

-2.75%

GLOBAL TRAFFIC RANK

45,989

MONTHLY RANK CHANGE

-20,034

MONTHLY RANK GROWTH

-30.34%

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Lemonade

About

Lemonade is a P2P, technology-first and legacy-free insurance carrier. The startup has raised $13 million in initial funding and attracted a line-up of reinsurance partners, including Berkshire Hathaway's National Indemnity and leading Lloyd’s of London syndicates.

Focus

PRODUCTS & SERVICES

Peer to Peer insurance carrier

TOP PROBLEM SOLVED

The inherent conflict- the moral hazard- at the heart of the insurance industry.

PRODUCT DEVELOPMENT STAGE

Operational

Traction

LIVE USERS/TRANSACTIONS:

No live users/transaction yet

People

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

employee: Daniel Schreiber(CEO);

employee: Daniel Schreiber(CEO);

employee: Daniel Schreiber(CEO);

BOARD MEMBERS AND ADVISORS:

Tom Hutton, Joel Cutler, Haim Sadger

INVESTORS:

Aleph Venture Capital

Allianz

Expansion Venture Capital

General Catalyst Partners

GV

Institutional Investors: Sequoia Capital

Thrive Capital

Tusk Ventures

XL Innovate

Momentum

FUNDED

YES

TOTAL FUNDING:

$60 M

LISTED

NO

SEED & PRIOR FUNDING

$13 M

SEED CLOSED ON

Dec 2015

FUNDING SERIES

SERIES A  · $13 M  · Aug 2016

SERIES B  · $34 M  · Dec 2016