Lemonade Insurance announced today that 14 charitable organizations, which were selected by policyholders, will become the beneficiaries of donations that together total 10% of the company's revenues to date.
The startup's "2017 Giveback" campaign is "something our entire community can be very proud of," Lemonade CEO and cofounder Daniel Schreiber said in a press release. "While we're small, and the absolute numbers are modest, Giveback should scale as we do. Think what our industry could achieve if others adopted the Giveback way."
Lemonade said this year's donations total $53,174, or just over 10% of company revenues since Lemonade launched its web-based insurance company less than a year ago. The startup sells homeowners and renters insurance and is powered by artificial intelligence and behavioral economics.
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Elana Ashanti Jefferson
Elana Ashanti Jefferson is ALM PropertyCasualty360's Editor in Chief. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
