Newsletter #35 (Premium): Lemonade is the AI-powered, digital insurer with a social conscience. They redefined the insurance business model, achieved more in 4 years than most do in 40, & growing at pace. In this exclusive interview, Rick Huckstep talks with CEO, Daniel Schreiber.

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Redefining the game

"It's the game, not the players."

This is what Daniel Schreiber, the co-founder and CEO of Lemonade told me 5 years ago. At the time, Lemonade was just about to launch its first insurance product in New York. He and I were on a video call and Daniel was explaining the "how" and the "why" that made Lemonade different to everyone else.

And it came down to one thing. Behaviour.

The issue for the insurance industry (and I generalise, although the data supports the perspective) is that people don't trust insurers and insurers don't trust people. In designing and building Lemonade, an AI-enabled digital insurance platform, Daniel and co-founder Shai Wininger had identified this as the problem in the insurance business model they wanted to solve.

Five years later and we're back on a video call. This time to talk about how it went in Lemonade's first 5 years, and what's next for them. We talk about their journey, their customers, their move into car insurance and the differences operating in Europe versus the United States.

And I make a shameless plug to write "Lemonade, the Story" before we second-guess who would play Daniel and Shai in the subsequent "Lemonade, the Movie".

But first, let's start at the beginning...

Insurance will never be the same again

This was the headline I posted exactly 5 years ago today. The day that Lemonade, the digital insurance startup, opened for business on September 21st, 2016.

I believed the headline back then, just as I believe it right now.

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