Insurtech Lemonade Inc. narrowed its first-quarter net loss to $47.3 million from $65.8 million a year earlier as artificial intelligence enabled its “relentless pursuit of automation at every stage,” the company said in a shareholder letter.
Tag: Lemonade
This Gen-Z Lemonade Might Sour
Shares in New York-based insurer Lemonade are trading around $14 after it reported a second-quarter net loss of $67 million earlier this month. Two years ago, they were briefly above $180. The company went public at $29 in 2020.
Insurtechs Have Yet to Transform Insurance Pricing As Touted
A generation of startups promised to transform the insurance industry with new types of data and algorithms to more accurately assess risk and price policies nearly a decade ago. So far, this has not occurred.
Lemonade Posts 64% Top-Line Growth in Q4, As Loss Ratios Improve
Lemonade has reported a 64% increase in in-force premium for the fourth quarter of 2022, alongside improvements in its loss ratios and a narrower net loss.
Lemonade Goes Abroad to the UK
Lemonade, an insurance company powered by artificial intelligence and social impact, has launched in the United Kingdom. Residents in the United Kingdom can now obtain Lemonade Contents insurance instantly, from anywhere, on any device, and file claims and receive payment in seconds. “We believe the millions of local renters will appreciate what Lemonade has to… Continue reading Lemonade Goes Abroad to the UK
Lemonade Lays Off Surprised Metromile Staff Following Acquisition
Lemonade reportedly laid off approximately 20% of Metromile’s staff shortly after acquiring the company. According to Forbes, 60 Metromile employees were let go just hours after Lemonade closed the $145 million deal. A former Metromile employee said “for most people, it came as a surprise…During the merger process, it was widely assumed that everyone would… Continue reading Lemonade Lays Off Surprised Metromile Staff Following Acquisition
Lemonade Completes Acquisition of Metromile
Lemonade, the insurance company powered by AI and social impact, today announced the closing of the acquisition of car insurance provider Metromile. Metromile shareholders received 7.3 million LMND shares, while Lemonade received a business with over $155m in cash, over $110m in premiums, an insurance entity licensed in 49 states, and a team unsurpassed in… Continue reading Lemonade Completes Acquisition of Metromile
New York’s Former Chief Insurance Regulator Scott Fischer Joins Lemonade
Lemonade, the digital insurance company powered by social impact, today announced the appointment of Scott Fischer as Head of Government Relations and co-General Counsel of Lemonade Insurance Company. As Lemonade’s first Head of Government Relations, Fischer will provide strategic counsel regarding laws and regulations impacting the company and guide strategy around relationships with key stakeholders… Continue reading New York’s Former Chief Insurance Regulator Scott Fischer Joins Lemonade
Insurance Start-Ups Face Credibility Crisis in Brutal Tech Rout
“Forget everything you know about insurance,” was the brash tagline on a banner adorning the New York Stock Exchange when Lemonade went public in July 2020. The message captured the confidence that propelled the US insurance start-up and its peers, including Hippo and Root, on to the stock market at valuations far above those of… Continue reading Insurance Start-Ups Face Credibility Crisis in Brutal Tech Rout
InsurTech Firm Lemonade to Offer Car Insurance
Insurance-technology upstart Lemonade Inc. is rolling out an auto insurance business, moving beyond renters, home, pet and life-insurance policies into one of the most competitive parts of the industry. The New York-based firm will rely heavily on telematics to size up risk in applicants, company co-founder and co-Chief Executive Daniel Schreiber said in an interview.… Continue reading InsurTech Firm Lemonade to Offer Car Insurance