Lemonade Inc., a digital insurance company that uses artificial intelligence and behavioral economics, announced the successful renewal of its reinsurance program.
Lemonade’s reinsurance program has been renewed with the same top-tier carriers as before and was oversubscribed. The program maintains a 55% quota share protection and is expected to offer similar or improved ceding commissions compared to previous agreements. Daniel Schreiber, Lemonade’s CEO, highlighted that the renewed program provides better terms than last year and supports the company’s growth in a capital-efficient manner.
In July Lemonade also announced that it is expanding across the United Kingdom with Buildings and Contents insurance.
Daniel Schreiber also stated in May that he is expecting the company to break into cash flow positivity by year end 2024.
