Total aggregated rankings by insuranks.com users.
Lemonade Insurance Company is a property and casualty insurance company that is transforming the very business model of insurance. By injecting technology and transparency into an industry that often lacks both, we’re creating an insurance experience that is fast, affordable, and hassle free. Unlike any other insurance company, we gain nothing by delaying or denying claims (we take a flat fee!), so we handle and pay as many claims instantly as possible. How is Lemonade’s business different from that of a traditional insurance carrier? Traditional insurance companies make money by keeping the money they don’t pay out in claims. This means whenever they pay your claim, they lose profit. This is why getting your claims paid fast and in full is sometimes so hard. Lemonade was built differently. We take a fixed fee out of your monthly payments, pay reinsurance (and some unavoidable expenses), and use the rest for paying out claims. In essence, we treat premiums as if they were still your money and return unclaimed remainders in our annual 'Giveback'. Giveback is a unique feature of Lemonade, where each year leftover money is donated to causes our policyholders care about. We treat policyholders who care about the same causes as virtual groups of 'peers'. Lemonade uses the premiums collected from each peer group to pay for the group's claims, giving back any leftover money to their common cause, and uses reinsurance to cover for cases where the group's claims exceed what's left in the pool. This way, our customers enjoy amazing insurance, and society gets a little push for the better. It also means that, unlike traditional insurance companies, we're not in conflict with our customers, so we're happy to pay claims fast and with no hassle.
Priscille Bonneva Insuranker
Policy Type: Home Insurance
I had an excellent experience all around my customer lifecycle with Lemonade. Super easy to get information through their app, application process is smooth - seamless experience! Refunds and claim payments are done super fast! Lemonade is transforming the way insurance companies take care of their clients. Highly recommended!