Lemonade, the startup that's been dubbed "the Uber of insurance" for its mobile-based, peer-to-peer sales model, brought its product to market on Wednesday with the official launch of lemonade.com.
The company is headquartered in New York City, and is currently focused on selling renters' and homeowners' insurance products there. Also pivotal to the Lemonade model is the idea that unspent premiums will be funneled back into the community through philanthropic initiatives.
"Technology drives everything at Lemonade," Shai Wininger, the company's president and co-founder, said in a press release about the launch. "From signing up to submitting a claim, the entire experience is mobile, simple and remarkably fast. What used to take weeks or months now happens in minutes or seconds. It's what you get when you replace brokers and paperwork with bots and machine learning."
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Elana Ashanti Jefferson
Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
