Lemonade Surpasses 2 Million Active Customers
2023年11月9日 - 2:34AM
ビジネスワイヤ(英語)
Notable customer count milestone is coupled
with significant increase in premium per customer, demonstrable
scalability, and clear progress toward profitability
Lemonade (NYSE: LMND) (the "Company"), the digital insurance
company powered by AI and social impact, today announced the
welcoming of its two millionth customer. The pace to achieve the
second million customers was 35% faster than the first million,
which was achieved in late 2020, while premium per customer
increased approximately 70% over the same period. More notably, net
operating loss, as compared to gross earned premium, roughly halved
over the same period. Taken together, these improvements are a
testament to Lemonade’s structural technological advantage and
overall scalability.
A few highlights achieved as Lemonade scaled from 1 to 2 million
customers:
- Lemonade Car launched with telematics-enabled auto insurance in
the United States and continues rolling out across the country
- Lemonade expanded across the pond, offering contents insurance
in the UK in addition to other markets in Europe
- Metromile joined the family as the company’s first
acquisition
- The Company continued its work with AI, implementing large
language models trained to interact with customers, creating a
seamless and delightful experience along the way
- and so much more…
“Reaching two million customers around the world is an exciting
milestone, and one we achieved much faster than our first million
and with significant expansions, of both product and geography,
along the way,” said Shai Wininger, cofounder and co-CEO of
Lemonade. “We’ve doubled our customers while increasing our premium
by 3.5x. This is indicative of the strong progression of the
business in recent years, and outlines a clear path to
profitability.”
More information about Lemonade’s business and progress can be
found in the Q3 2023 Shareholder Letter and statutory financial
statement.
About Lemonade
Lemonade offers renters, homeowners, car, pet, and life
insurance. Powered by artificial intelligence and social impact,
Lemonade’s full stack insurance carriers in the US and the EU
replace brokers and bureaucracy with bots and machine learning,
aiming for zero paperwork and instant everything. A Certified
B-Corp, Lemonade gives unused premiums to nonprofits selected by
its community, during its annual Giveback. Lemonade is currently
available in the United States, Germany, the Netherlands, France,
and the UK, and continues to expand globally.
Follow @lemonade_inc on Twitter for updates.
Cautionary Note Regarding Forward-Looking Statements
This Press Release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact
contained in this Press Release including without limitation
statements regarding our expected future results of operations and
financial position, our future profitability, our anticipated
growth and ability to effectively manage the growth of our business
are forward-looking statements. These statements involve known and
unknown risks, uncertainties and other important factors that may
cause our actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements.
These statements are neither promises nor guarantees, but
involve known and unknown risks, uncertainties and other important
factors that may cause our actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements, including, but not limited to, the
following: our history of losses and the fact that we may not
achieve or maintain profitability in the future; our ability to
retain and expand our customer base; the risk that the “Lemonade”
brand may not become as widely known as incumbents’ brands or the
brand may become tarnished; the denial of claims or our failure to
accurately and timely pay claims; our ability to attain greater
value from each user; the novelty of our business model and its
unpredictable efficacy and susceptibility to unintended
consequences; the possibility that we could be forced to modify or
eliminate our Giveback; our limited operating history; our ability
to manage our growth effectively; the intense competition in the
segments of the insurance industry in which we operate; risks
related to the availability of reinsurance at current levels and
prices; our exposure to counterparty risks; our ability to maintain
our risk- based capital at the required levels; our ability to
expand our product offerings; risks, including regulatory risks,
related to the operation, development, and implementation of our
proprietary artificial intelligence algorithms and telematics based
pricing model; legislation or legal requirements that may affect
how we communicate with customers; our reliance on artificial
intelligence, telematics, mobile technology, and our digital
platforms to collect data that we utilize in our business; our
dependence on search engines, social media platforms, digital app
stores, content-based online advertising and other online sources
to attract consumers to our website and our online app; our ability
to obtain additional capital to the extent required to grow our
business, which may not be available on terms acceptable to us or
at all; periodic examinations by state insurance regulators; our
actual or perceived failure to protect customer information and
other data as a result of security incidents or real or perceived
errors, failures or bugs in our systems, website or app, respect
customers’ privacy, or comply with data privacy and security laws
and regulations; underwriting risks accurately and charging
competitive yet profitable rates to customers; potentially
significant expenses incurred in connection with any new products
before generating revenue from such products; risks associated with
any costs incurred and other risks as we expand our business in the
U.S. and internationally; our ability to successfully combine the
businesses of Lemonade and Metromile and realize the anticipated
benefits of the merger; the cyclical nature of the insurance
industry; risks related to our ability to comply with extensive
insurance industry regulations and additional regulatory
requirements specific to other vertical markets that we enter or
have entered; our ability to predict the impacts of severe weather
events and catastrophes, including the effects of climate change
and global pandemics, on our business and the global economy
generally; increasing scrutiny, actions, and changing expectations
on environmental, social, and governance matters; fluctuations of
our results of operations on a quarterly and annual basis; our
utilization of customer and third party data in underwriting our
policies; limitations in the analytical models used to assess and
predict our exposure to catastrophe losses; risks related to
potential losses that could be greater than our loss and loss
adjustment expense reserves; the minimum capital and surplus
requirements our insurance subsidiaries are required to have;
assessments and other surcharges from state guaranty funds; our
status and obligations as a public benefit corporation; the ability
of significant shareholders to influence the outcome of important
transactions, including a change in control; our operations in
Israel and the current political, economic, and military
instability, including the evolving conflict in Israel and
surrounding region; and the impact of the Customer Investment
Agreement with General Catalyst which is unpredictable, and the
arrangement may not function as expected.
These and other important factors described under the caption
"Risk Factors" in our Annual Report on Form 10-K for the fiscal
year ended December 31, 2022 filed with the SEC on March 3, 2023,
our Quarterly Report on Form 10-Q for the period ended September
30, 2023 filed with the SEC on November 3, 2023, and in our other
and subsequent filings with the SEC, could cause actual results to
differ materially from those indicated by the forward-looking
statements made in this Press Release. Any such forward-looking
statements represent management’s beliefs as of the date of this
Press Release. While we may elect to update such forward-looking
statements at some point in the future, we disclaim any obligation
to do so, even if subsequent events cause our views to change.
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version on businesswire.com: https://www.businesswire.com/news/home/20231108525504/en/
Natalie Wilson press@lemonade.com
Lemonade (NYSE:LMND)
過去 株価チャート
から 4 2024 まで 5 2024
Lemonade (NYSE:LMND)
過去 株価チャート
から 5 2023 まで 5 2024