Insurtech Lemonade reported a 71% increase in gross earned premiums in the first quarter of 2022, finishing the period with $96 million, up from $39.8 million. However, the company’s net loss increased in comparison to Q1 last year, rising to $74.8 million in Q1 2022 from $49 million previously. Revenue for the quarter increased by… Continue reading Lemonade Premiums Up 71% Amid Growing Losses
Tag: Insurtech Lemonade
Proposed Class-Action Suit Accuses AI-Driven Insurer Lemonade of Illegally Capturing Consumers’ Biometric Data
A proposed class action claims Lemonade Inc. has unlawfully collected Illinois residents’ facial geometries through videos uploaded as part of the claims process on the insurance company’s website. The 22-page lawsuit out of Cook County Circuit Court alleges Lemonade, an “artificial intelligence-driven” insurer, has violated the Illinois Biometric Information Privacy Act (BIPA) by collecting scans… Continue reading Proposed Class-Action Suit Accuses AI-Driven Insurer Lemonade of Illegally Capturing Consumers’ Biometric Data