Lemonade: the first P2P insurance company
Lemonade just stepped out of “stealth mode” and into the limelight, soon to launch as the first P2P insurance company in the world.
Lemonade isn’t simply slapping P2P technology atop existing insurance companies. Insurance has remained fundamentally unchanged for centuries, so an insurance product for today’s consumer required re-architecting every part of the value chain. We created Lemonade as a purpose-built, technology-first, vertically-integrated and legacy-free insurance carrier.
Insurance brands are some of the least loved and least trusted, and we came to understand that the cause is structural: every dollar your insurer pays you is a dollar less for their profits. Their interests, in other words, are profoundly conflicted with yours.
Brands that make money by delighting their customers deserve to be loved; those that make money by disappointing customers are destined not to be. With Lemonade we’re hoping to deliver an insurance experience that is instantaneous, un-conflicted and downright loveable.
Stay tuned :-)
Originally published at www.linkedin.com.