FinTech Magazine January 2020 | Page 62

[ HQ NEW YORK , NY , US ]
TOP 10
MARKET VALUATION

US $ 2bn

62

10 Lemonade

[ HQ NEW YORK , NY , US ]

Lemonade , the contents and liability insurance company targeted at urban residents , is a certified B-Corporation that focuses on giving back through charity donations from leftover money in the user ’ s insurance pool . It functions in reverse to the traditional insurance model by taking a flat fee , paying claims within minutes and giving any leftover money to causes . In addition , like many finance companies today , Lemonade has an AI bot , Maya , integrated into its messaging services to provide quotes and advice , allowing customers to get insured in a matter of seconds .
JANUARY 2020