Lemonade (NYSE: LMND), the digital insurance company powered by AI and social impact, has passed $1 billion of In Force Premium (IFP). This marks a significant milestone for the company, coming just 8.5 years after selling its first policy, and reflecting a ~150% compound annual growth rate. This rapid growth was enabled by Lemonade’s investment in technology, broad product portfolio, deep geographic reach, and a persistent focus on building the best customer experience.
“Surpassing $1B in IFP with positive free cash flow and a healthy loss ratio is an important milestone for us,” stated Shai Wininger, Lemonade President and cofounder. “We’ll take a minute to celebrate today’s achievement, and get back to work on our journey to our next 10x!”
As laid out at the recent Investor Day, Lemonade Car will play a key role in the company’s accelerating growth plan. The company also announced the launch of Lemonade Car in Colorado beginning tomorrow, bringing Lemonade’s availability to roughly 40% of the US car insurance market. Coloradans spend about $7B on car insurance annually, with Lemonade’s existing Colorado customers spending hundreds of millions a year on car insurance, making the state a promising market for Lemonade Car.
To check out Lemonade’s full Investor Day or for more information, go to investor.lemonade.com. For more details on Lemonade Car, visit lemonade.com/car.
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