InsurTech Magazine - May 2021

Page 16

TIMELINE THE STORY OF

Lemonade has been rated the top insurtech company in the US. According to independent reviewers its popularity is almost unprecedented in the insurance industry with 94% of policyholders likely to renew their policy, 96% recommending their services and 97% rating their claims experience positively. We track the disruptive insurtech’s journey to success.

16

2014

2015

2016

The meeting

Lemonade is born

Customer generation

Shai Wininger and Daniel Schreiber meet for the first time through a mutual friend. They discuss the possibility of starting a business. Although Wininger has launched four previous businesses, neither of them have insurance industry experience. So they hire industry veteran Ty Saglow to help them create their enterprise.

Lemonade launches as a licenced carrier that sells its own products and services and in its first funding round in December 2015, raises $13m through investors Sequoia Capital and Israeli VC Aleph.

Following it’s official launch, Lemonade takes off with unprecedented success, signing up more than 14,000 customers within its first six months of operation. In the same period, Series A and B funding rounds generated a further $48m in investments to expand the company. Lemonade also becomes one of the few insurance companies to receive B-Corporation certification.

May 2021


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