Lemonade is a consumer insurance company that currently offers renter, condo, home, auto, pet, and life insurance. While most insurance companies that consumers are familiar with—Progressive, GEICO, State Farm, Nationwide—were founded 80+ years ago, Lemonade was started in 2015 by the current CEO, Daniel Schreiber, and COO, Shai Wininger.
Not surprisingly given that timeline, Lemonade is a much more tech-oriented company than their larger competitors. Lemonade does not sell its insurance via agents and brokers, instead focusing on online ads, fun social media presences, and word-of-mouth that comes from their high net promoter scores. Lemonade insurance can be purchased in just a couple of minutes from their bot, AI Maya, and one-third of claims are handled entirely by AI Jim—with zero human interaction. This tech advantage is obvious by simply using the product. I have now switched all of my insurance from Progressive and GEICO to Lemonade due to their tech and app being so much better.
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