Lemonade Bets On Trust And Transparency To Gain Customers And Transform The Insurance Industry

With an innovative business model that aims to transform the insurance industry, Lemonade is attracting customers and investors with its technology- and transparency-driven products. Rooted in its values as a Certified B Corporation and public benefit corporation, the startup insurer builds its business on a give-back system that allows customers to select nonprofits that receive any unused premiums.

Lemonade cofounder and CEO Daniel Schreiber says that by donating that money rather than keeping it as profit, the company produced more than $1 million in donations in 2020. It’s a practice that he says goes against the industry’s traditional relationship with customers.

“I don’t think about what we’re doing

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