Lemonade is a property and casualty insurance company using a peer-to-peer model and providing insurance through a mobile application. Lemonade aims to provide a transparent insurance model. Customers pay an insurance fee for renters or home insurance, which is pooled among the policyholders. Lemonade pays out claims quickly and any leftover balance (after overhead, reinsurance, and claims payouts) is donated to charities policyholders care about. Lemonade claims on its website that it takes 90 seconds to be insured and 3 minutes to get paid from a claim.
Lemonade was founded in 2015 and is based in New York, New York.
How Lemonade Works
*Based on Preferred Stock Price, Lemonade does not have a stock symbol since it is currently private and is yet to have an IPO.
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