US-based insurtech startup Lemonade has raised $300 million in a Series D funding round led by SoftBank Group:
that German regulator Bafin identified a number of shortcomings that could have been related to its fast expansion, managing growth isn't always easy for startups.
The significant investor backing acts as a testament to the success of Lemonade's unique business model. The insurtech has been donating leftover money from those set aside for claims to charities of its customers' choice. In doing so, it has also managed to reduce fraud incentive among its users and prove its business model: Last year, it generated $57 million in revenue, while this year it's on track to hit $100 million.
Forrester data — Lemonade should be able to attract new clients from this segment, as millennials' purchasing power and homebuying activity continues to increase.Lemonade continues to shake up the insurance industry, and as it grows in size and value, it's high time insurers took a leaf out of its book.
To protect their market share, large insurance companies should look at Lemonade as a model for solutions that remove customer pain points. Lemonade's been tackling issues that often bring friction between insurers and their customers since day one, including with its seamless onboarding, fast claims processing,
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