Lemonade is an insurance company that leverages technology with social giving. Through A.I., Lemonade saves customers money and enables them to donate to charity at the same time.
Daniel Schreiber, CEO and Co-Founder of Lemonade, explains how the company is able to pull both off. Customers pay a flat fee. From that fee, 20% goes to pay management costs. The other 80% is used to cover claims. Any remaining funds are donated to a charity of the customer's choice.
Policies start at $5 a month. The company offers renters and home insurance policies for homes, apartments, co-ops and condos.