NC Company Overview
Lemonade is an insurance carrier that uses cutting-edge artificial intelligence and machine learning, along with the latest in behavioral economics, to provide a fast, efficient and bureaucracy-free experience for people looking to take out home insurance. Lemonade can offer insurance for both renters and homeowners and can complete the entire process online with no paperwork or waiting. It does this by using its proprietary technology in place of traditional brokers, and this enables it to make effective insurance decisions and provide coverage immediately. Lemonade can also handle all of the admin involved with switching to them from an existing insurer.
Lemonade, based in New York City, NY, USA, is a certified B-Corp, which means that profits from underwriting go to non-profit organizations. Their vision is for insurance to become a force for social good, rather than the necessary evil many people consider it as.
As of May 2019, Lemonade claims are being paid out in as little as three minutes, and coverage can be offered within 90 seconds of applying. Customers can use Lemonade’s mobile apps for Android and iOS to manage their cover. The business has received positive news coverage in financial and mainstream media including Forbes, WSJ, Inc, Tech Crunch, and the New York Post.