Insurance Provider Lemonade Offers Stock in IPO

There aren’t many trillion-dollar industries, let alone multi-trillion-dollar industries. One of the biggest industries in the world, insurance – property, casualty, and life – premiums amount to approximately $5 trillion globally, accounting for 11% of gross domestic product in the United States. We previously discussed how technology is reshaping the insurance industry and today we’re going to look at an insurtech company doing just that – and they’re having an initial public offering (IPO). Most of the below information was taken from the Lemonade prospectus filed with the SEC (also called an S-1 filing).

Lemonade Home and Renter’s Insurance

Founded in 2015, New Yawk startup Lemonade has taken in $480 million in funding so far from big names like Sequoia, Allianz, SoftBank, and Google. That money was spent developing “a full-stack insurance company powered by AI and behavioral economics and driven by social good.” The term “full stack” means they’re vertically integrated, building their highly-automated “learns as it goes” insurance platform from the bottom up. For ex