Lemonade
insurtech . online first insurance
FOUNDING YEAR: 2015
LOCATION: United States
Last Update: 19/01/2021
Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive WhatsApp community where you can engage in discussions with global industry experts!
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
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%
Sign up for 7 days free trial with MEDICI Inner Circle to follow and track profiles you care about.
Related Companies
CoverHound is a technology company offering a platform for consumers to shop for car insurance. CoverHound provides smart recommendations and personalized quotes.
QuotePie is an online marketplace where businesses that need commercial insurance, or are shopping for better coverage or lower rates, can connect with qualified insurance ...
WorldCover offers peer-to-peer investments. It connects a growing pool of investors who seek uncorrelated investment returns and impact from their capital with a huge and g...
Join the exclusive global FinTech community
Be a part of the global FinTech community on WhatsApp
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:
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