Insurance company reaches one million customer milestone decades faster than America’s leading insurers
NEW YORK–(BUSINESS WIRE)– Lemonade, the insurance company powered by artificial intelligence and behavioral economics, announced it has more than one million customers. Lemonade hit this milestone about 1,500 days after its initial launch, some 15-45 years faster than industry leaders such as State Farm, Allstate, GEICO, and USAA.
“We’re proud to hit the one million customer mark so early in the life of the company,” said Shai Wininger, Lemonade co-founder and COO. “With every new customer, our system grows smarter, our underwriting gets better, and our prices become more accurate and fair. At Lemonade, one million customers translates into billions of data points, which feed our AI at an ever-growing speed. Quantity generates quality.”
Lemonade is operational in the majority of the United States and in three European countries, offering insurance products spanning homeowners, renters, and pet health insurance. Consumers rate Lemonade #1 across multiple platforms, citing the hassle-free digital experience with lightning-fast claim payments, best-in-class customer service, and an unconflicted business model.