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  #11  
Old 12-09-2015, 05:20 PM
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Based in New York, the company currently has 15 people on staff, including, Schreiber assured me, some titans of the insurance industry that he just. couldn’t. talk. about.
Searching the directory yields no results for Organization "Lemonade". So that's one possible reason OP.
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  #12  
Old 12-09-2015, 09:59 PM
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Let's see, 15 on staff at say an average headcount cost of $200k each loaded for benefits. They probably have not bought a system yet, have not started licensing, have not paid for bureau membership....that $13,000,000 is going to evaporate pretty fast.

That said, the idea worked pretty well for State Farm and USAA, so...who knows.
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Old 12-11-2015, 11:13 PM
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I've been in corporate america for a few years now, but it still makes me do a double take when people talk like this outside of a Dilbert cartoon.
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  #14  
Old 12-11-2015, 11:43 PM
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Originally Posted by therealsylvos View Post
Searching the directory yields no results for Organization "Lemonade". So that's one possible reason OP.
It seems that 15 people with LinkedIn profiles currently work there. No actuaries yet.
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  #15  
Old 12-11-2015, 11:50 PM
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It seems that 15 people with LinkedIn profiles currently work there. No actuaries yet.
Are any of them titans of the insurance industry as advertised?
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  #16  
Old 12-12-2015, 09:51 AM
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Are any of them titans of the insurance industry as advertised?
I didn't look closely at the LinkedIn profiles, but I wouldn't think so.

I don't think industry execs would leave for a high-risk startup environment, unless the pay is much higher. Perhaps it is.
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  #17  
Old 12-14-2015, 12:06 PM
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Do I understand correctly that Friendsurance and Guevara are more brokers while Lemonade is proposing an actual carrier?

Insurance Journal is a good article on this as well:
http://www.insurancejournal.com/news.../08/391235.htm
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  #18  
Old 12-14-2015, 12:14 PM
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It’s also been slow to happen because it takes a lot of money to start an insurance carrier, he said, suggesting that was why raising the $13 million was so important.
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Old 12-14-2015, 12:36 PM
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Chief Marketing Officer IMO
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Old 12-14-2015, 12:53 PM
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It sounds like it might work on a micro level, but I can't see it being used for homeowner's/auto/business insurance. I would assume the reserve issue (whether required by regulators or to instill confidence in people like "Hey, we've got enough in the bank to cover your house") would be a major hurdle. It sounds like a group of buddies wanting to pool their money together in case one of them gets their apartment broken into.
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