Lemonade donates $631K to 25 charities worldwide

Growing more than 1,000% since 2017, the impact of this year’s Giveback includes supporting Teach for America, UNICEF, The Trevor Project and more.

Lemonade’s Giveback this year has grown more than 1,000% since the brand’s first Giveback program three years ago. (Photo: Shutterstock)

What if all the world’s unclaimed insurance dollars went to charity?

Insurance tech company Lemonade is challenging the traditional model of giving back — and with impressive results.

The company recently announced that its Giveback program’s 2019 donations amount to $631,540, impacting 25 charities worldwide — a 1,000% growth from when the program started in 2017.

Unlike traditional insurance companies that pocket unclaimed insurance dollars, Lemonade lets users select a nonprofit they care about to donate their unclaimed money to.

In the Giveback model, Lemonade policyholders choose a cause when they sign up for insurance, forming an invisible ‘cohort’ with other policyholders who choose the same cause. Each ‘cohort’s’ premiums are used to pay their claims, and Lemonade then gives back any leftover money (up to 40% of premiums) to their common cause.

“The Lemonade Giveback model isn’t traditional philanthropy, nor a ‘corporate social responsibility’ program; it’s the result of an unconflicted business model – where giving back brings out the best in us all,” said Daniel Schreiber, Lemonade CEO and co-founder, in a statement. “In just under three years, the Lemonade community has given back almost one million dollars, simply by choosing a cause they support when getting their insurance policy. Giveback shares the good will and good fortune of our community, and we’re deeply gratified our model and our community have proven to be so impactful for charities worldwide.”

The impact of this year’s Giveback include:

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