If you think that insurance has to be a tired or old-fashioned concept, think again! Lemonade is reinventing insurance, making it a more comprehensible, convenient–and most importantly–affordable component of our lives.
Lemonade offers refreshingly innovative and affordable renters and home insurance coverage. In short, this ingenious app was created to make the above forms of insurance more accessible and simple. Lemonade caters to all users looking for renters and home insurance coverage; however, its appeal is found through its more youthful, fast-paced perspective.
In short, you can forget everything you know about insurance when you use Lemonade.
Get Your Claims Paid Fast
Since Lemonade only takes a flat fee from the monthly premium users pay them, they gain nothing by delaying or denying claims and as a result pay claims as quickly as possible, in as little as 3 minutes in some cases!
“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,” the company explains on their website. “Lemonade was built differently. In essence, we treat premiums as if they were still your money and return unclaimed remainders in our annual ‘Giveback.’”
Insurance That Gives More Than It Takes
Lemonade’s Giveback program is something truly unique.
The company gives any leftover money from paid premiums to causes policyholders care about, transforming the “necessary evil” of paying for insurance into something that also does a little good for society.
Lemonade’s charitable donations from unused premiums totaled $1,128,109 in 2020 alone.
User-Friendly, App-Based Approach to Insurance
The Lemonade app also offers a playful aesthetic and user-friendly nature, which is incredibly inviting. The word “insurance” often comes with the negative connotations of boring, complicated, and expensive. No wonder it’s a topic we often avoid! Lemonade turns these adjectives on their head by providing an alternative that’s fun and easy to keep up with.
On the point of being user-friendly, Lemonade enacts a couple of features that are game-changing. With the help of artificial intelligence, the app is doing away with the errors and lack of transparency that can be experienced with more traditional methods.
Lemonade uses chatbots instead of brokers to provide assistance, conduct research, and deliver data. These chatbots are not only more readily available, but they’re also more precise. As Lemonade’s digital presence and database grow, the efficiency and accuracy of these systems expand.
The company also busts insurance’s age-old issues surrounding trustworthiness. Lemonade believes in providing clarity to its users in every step. Because of its streamlined set-up and consistent presentation of data, customers are never left questioning.
What Does Lemonade Cover?
Lemonade was created to exclusively provide renters and home insurance coverage; however, the company recently added pet insurance to the list as well.
Who knows what’s next for this clever app!
What we do know is that this company has made massive strides since its start in 2015. Based on the trends, this is the future of insurance.
Get Insured in Just 90 Seconds
Ready to experience the Lemonade difference for yourself? You could start saving big on homeowners or renters insurance in as little as 90 seconds!
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