So revved-up, we just launched Lemonade Car insurance! When
@Lemonade_Inc
IPO’d we only had Homeowners insurance, and in the 16 months since we’ve added Pet insurance, Life insurance and now Car insurance! What a ride.
Today at 13:39 East African Time, in Makeuni County, Kenya, Eunice Jesang paid $0.83 to insure her maize against crop failure. This was enabled by Lemonade Crypto Climate Coalition.
#Insurance
+
#crypto
at its most impactful.
1/ So pleased with
@lemonade_inc
's Q3 results - top line, bottom line, and intervening lines! Some choice highlights:
- Revenue up 55%
- Gross Profit up 170%
- Loss Ratio improved 11%
- Operating Expense down 11%
- Net Loss contracted 33%
- EBITDA loss improved 39%
We're ending 2020 with over ONE MILLION customers!
@Lemonade_Inc
hit this milestone 15-45 YEARS QUICKER than industry leaders like
@StateFarm
@Allstate
@GEICO
and
@USAA
!
To our 1,000,000 amazing customers - Thanks A Million and a Happy New Year!
It was 5 years ago today that we sold the first
@Lemonade_Inc
policy, and 5 years is the federal statute of limitations, so… now is a good time to spill the beans, settle scores, and fess up with impunity!
Here goes:
We don’t talk about it much, but the Lemonade Foundation is a
#nonprofit
we established prior to IPO and endowed with shares worth about $75m. The idea was that good causes will share not only in
@lemonade_inc
’s
#Giveback
, but also in the IPO and any stock appreciation of $LMND.
How’s
@lemonade_inc
progressing? A two-year 3-2-1 snapshot says it all:
3️⃣ Gross Profit up 3X
2️⃣ In Force Premium up 2X
1️⃣ Operating Expense ~unchanged, 1X
The numbers tell a powerful story about
#AI
,
#scaling
, and🤞🏻where Lemonade is heading in the years and decades to come!
So nice to see
@Forbes
ranking
@Lemonade_Inc
#1
Renters Insurance in the USA, with ⭐⭐⭐⭐⭐ !
"Lemonade outpaces its competitors for renters insurance." 🏆
Thrilled to announce that today is the day that the Metromile team officially joins
@Lemonade_inc
and becomes, $LMND! We'll finally get to combine our capabilities, and work together to build the most loved, precise and fair Car insurance on the planet!
This is a great conversation! Many thanks goes out to
@daschreiber
for being open to engage in deep conversation.
Lemonade CEO: How We’re Reinventing Insurance (Ep. 186)
$LMND
@Lemonade_Inc
Lemonade is acquiring
@Metromile
! Why? Injecting all Metromile's data and machine learned algorithms into Lemonade Car could make the most seamless and customer-centric car insurance product also the most affordable, differentiated, precise, and fair. See
2020 reminds us all that it’s far more important that you have insurance than what insurance you have… This was our New Years Day message in the New York Times - wishing everyone an uneventful and healthy 2021!
1/ Big News: We've invented ‘Synthetic Agents’ to enable rapid growth without burning cash! I’ll explain: Lemonade's got strong unit economics (LTV/CAC>3) but long CAC payback (24m). So fast growth both maximizes long term profit 🥳 and depletes cash 😢. How to max growth & cash?
Yesterday
@Lemonade_Inc
celebrated its
#IPO
on
@NYSE
. Wow. A once in a lifetime experience. Truly. Thanks my family, friends, colleagues and partners who made it such an incredible milestone!! 🙏🏻
I’m asking every employee
@Lemonade_Inc
to get vaccinated, and urging every CEO to do the same. Why? vaccine hesitancy is the final challenge with
#Covid19
, and shortening the pandemic by 3 months will save a million lives.
Read, share &
#MoveTheNeedle
!
.
@heydave7
I really appreciate how thoughtful you are about
@Lemonade_Inc
and how engaged the community is in preparing for our conversation. Really looking forward!
Here's a preview of my thought process and the type of questions I'm planning on asking Lemonade CEO.
How to Disrupt the Insurance Industry Worth Trillions (Ep. 186)
9 years ago, I shared the incipient concept of
@Lemonade_Inc
in NY with the father of Behavioral Economics, the Nobel laureate Daniel Kahneman. His work had shaped our thinking profoundly, and many aspects of Lemonade - like our Giveback program - were inspired by his teachings.
So
@deutschetelekom
went to court to stop
@Lemonade_Inc
using pink! For years DT flexed its muscles to take a wide range of pinks away from a wide range businesses around the world! So we just filed to invalidate DT's Magenta trademark!
#FreeThePink
See:
Thrilled to share that Sean Burgess, Chief Claims Officer at
@USAA
, is joining
@Lemonade_Inc
. Read his post about why he ignored my warnings, and jumped ship after 27 years at USAA:
We just started rolling out Lemonade Life, a Term Life insurance that’s fully digital, requires no doctors or needles, and is actually fun to get!
In the next few weeks, we will learn and iterate, and then open it up for everyone.
.
@Glassdoor
I love you guys, but you've offered me 3 unrelated jobs
@Lemonade_Inc
in the past 10 days! And I already work there... Not sure how qualified I am for the job I have, but I'm totally unqualified for the claims, actuarial and growth roles you suggest!
No one should mistake our pink logo and charitable bent for
@Lemonade_Inc
being a soft target. We have zero tolerance for fraud, and bad actors who would poison our high-trust community, are identified by AI, and dealt with by the cops...
Today is GIVEBACK DAY! 🙏🏻 The
@Lemonade_Inc
community gave over $1 MILLION to 34 Charities! 50,000
#Covid
ICU patients treated, 36,963 trees planted, 355,500 students helped... check it out at
There are 2,538 Property & Casualty insurance companies in the USA.
@JDPower
ranked
@Lemonade_Inc
#1
for renters
#insurance
🎉🥂🥳.
Now that's a nice 4th anniversary present! 🙏🏻
Of course, quantity has to be driven by quality, not at the expense of quality, which is why hitting this milestone while being
#1
on consumer review sites,
#1
by
@JDPower
,
#1
on
@Apple
app store ⭐️⭐️⭐️⭐️⭐️... just a great way to end
a crazy 2020. 🙏
I am with Israel and am in Israel.
The depravity of the attack on Saturday left us all bereaved and bereft, and it put Hamas irredeemably in the category of the most deplorable forces, alongside ISIS, who must be eradicated by people of good will.
The abductions and summary…
"GEICO's technology needs a lot more work than I thought it did. It has more than 600 legacy systems that DON'T REALLY TALK TO EACH OTHER. That's a MONUMENTAL CHALLENGE"
(Ajit Jain, Berkshire Hathaway's Annual Meeting, May 6/23)
4 years ago today
@Lemonade_Inc
launched! In this photo is our global team on launch day, at our WeWork space in NY. What a ride - and here's to many more exhilarating years!
The day we launched
@Lemonade_Inc
our team was overwhelmed, so all joined in answering customers. Shai, the guardian of the brand, quickly (and nicely) kicked me out! Apparently my style is too 1980s for the brand! 🤷🏼♂️ More behind the scenes secrets here:
First discussed
@Lemonade_Inc
coming to 🇬🇧 over 6 years ago!
But hey, this is supposed to be a happy occasion. Let’s not bicker and argue over who killed who…
.
@Lemonade_Inc
Wins
#FreeThePink
Case Against
@deutschetelekom
in France!
Deutsche Telekom owned the French trademark on the color pink, or magenta, in the field of financial services (known as ‘class 36’) since it registered this color-mark 25 years ago.
No longer!
We announced 𝐒𝐲𝐧𝐭𝐡𝐞𝐭𝐢𝐜 𝐀𝐠𝐞𝐧𝐭𝐬 last week, and it's a game changer for Lemonade (see why: ). It's tempting to think it's 'just debt', but that misses a lot. It has things in common with debt, sure, but four differences makes all the difference.
Happy to share that the Lemonade Foundation participated in
@lemonade_inc
's follow-on offering last week, taking in $16.5m in cash - all of which will go to worthy causes. 80% of the Foundation's assets are still in $LMND stock, so hopefully, there'll be more to give as we grow!
Incredible interview with
@daschreiber
- CEO and Cofounder of Lemonade! Was a blast - thank you so much for your time!
$LMND to the Moon! Fun chat on legacy companies & $GME as well.
In our Founders' Letter we spell out our philosophy for
@Lemonade_Inc
"in the hope that investors who share our thinking will be drawn to $LMND, while those who do not will seek their fortunes elsewhere."
Have a read at
So,
@Lemonade_Inc
has a secret power. I’ve never seen anything like it in my 25 years in tech. It’s the gift that keeps on giving, and I tell all here:
#cofounder
@shai_wininger
6 years ago I left a meeting with Scott Fischer, NY's top insurance regulator, where he told me he'd license
@Lemonade_Inc
! I was ecstatic!
Today he joins as Lemonade as Head of Government Relations - and I'm ecstatic once more!
Here's why he joined:
3 years ago today I met this guy,
@shai_wininger
, for a coffee. We didn’t know a thing about insurance, but we set out to reinvent it all the same, and so
@Lemonade_Inc
was born!
Thrilled beyond words that we ventured out on this journey together - thanks brother!
#GoLemonade
!
🍋
@daschreiber
and the
@Lemonade_Inc
management team want to hear from you!
Lemonade is using Say Q&A for their upcoming Q4 2020 earnings call on March 2nd. Question submission and upvoting is now open👇
Today is Giveback Day - the best day in the
@Lemonade_Inc
calendar!
#Giveback
2023 sees $2,008,847 donated to 58 nonprofits. Checkout the incredible impact of the Lemonade community, and the incredible design of the lemonade team at
We welcomed two new members to the
@Lemonade_Inc
Board of Directors this week—Deb Schwartz and Dr. Samer Haj-Yehia. Both are exceptional and I'm really looking forward to working closely with them!
"The whole thing is monumentally dumb on the part of
@deutschetelekom
...If ever there were a trademark bully crying out to get the tables turned on it, it sure is this one. And it's nice to see Lemonade has gotten its first win."
Excited to launch 'Benevolent Bots' - the podcast from
@Lemonade_Inc
exploring the quandaries encountered at the intersection of AI and insurance. The amazing
@tulseedoshi
- our AI Ethicist - and I in conversation with smart guests. LMK what you think!
Using blockchain, crypto, and dApps gives me a strong sense of déjà vu! It throws me back to the early 90's, exploring the young 'world wide web' using NCSA Mosaic on my 4,800 baud dial-up modem.
When
@realdonaldtrump
sends people to storm the Capitol, "they’re not sending their best. They’re sending people that have lots of problems, They’re bringing crime. They’re rapists. And some, I assume, are good people."
My grandparents were orphaned and made refugees by the nazis. NEVER thought I'd see this scum walking the halls of the US Capitol. Theirs was more than an assault on
#democracy
. More than an assault on
#reason
. It was an assault on our collective humanity.
Furgive the puns, but the team
@Lemonade_Inc
has done the impawsible! I'm refuring to today's launch of Pet Insurance. Furtunate to be a pet parent? Take this Oppawtunity to check it out the offur at
Had to file my first insurance claim with
@Lemonade_Inc
.
I cannot overstate how flawless this experience was. From submitting the claim, to working with my specialist, to reimbursement, everything was frictionless. I’m not paid to say this, Lemonade was just that good.
Today's deal leapfrogs us over the riskiest part of our car ambitions: growing Lemonade Car before our data models season. It collapses time, flattens risk, and increases our efficiency, unlocking tremendous value for our shareholders and customers. See:
On my way to
@LizClaman
on
@FoxBusiness
to talk
@Lemonade_Inc
and AI, and everything in between, live in studio. Tune in 3-4 PM Eastern. Drop me your thoughts post-interview 👇
@PaperBagInvest
Both Adj. EBITDA and growth are highly sensitive to loss ratio, which, in inflationary times, is highly sensitive to regulatory approval cycles. As we can’t predict either inflation or regulatory approvals, 2023 is a tricky year to guide to.
Now we connect 10,000 faster and the rest is history. But having ETH today reminds me of what it felt like having email back then: cool but not yet all that useful. Few people I wanted to exchange emails with had email yet. Then, as now, the operative word seems to be 'yet'.
#MLK
’s Dream is my true north for the world we want to create, and last week, at
@OregonDCBS
, I presented how AI can be harnessed to make the Dream a reality in
#insurance
. (20 minutes)
“About 45% of our claims are now handled without any human contact at all through automation,”
@Lemonade_Inc
CEO
@daschreiber
says. “It’s really the technology paying dividends on years of intensive investment we made in building out this unique vertically integrated solution.”
Professor Kahneman was gracious and clear, refining our assumptions, and supporting our conviction that behavioral economics can transform insurance. He passed away today. Along with the rest of the world, we at
@lemonade_inc
mourn his passing and pay homage to his contribution💔