Lemonade provides it's third "transparency update," revealing it sold over 2k policies in 2016, with the majority sold in Manhattan and Brooklyn.
We launched three months ago, and as anyone with a feel for statistics will tell you, 100 days of data isn’t that meaningful in insurance. So I don’t want to create the impression that the results I’m sharing establish a predictable trend. They don’t. We’re here for the long term, and long term results are what matters. Our story will evolve – transparently – over time. Premium growth is important (see analysis in Part 2 of our Transparency Chronicles), though in this update I’m going to focus more on insurance metrics, with commentary on the quality and diversity of our customers and claims. On those fronts too, I’m happy to report: so far so great. Lemonade’s growth got off to a strong start.