World’s first $0 deductible insurance – Lemonade


Lemonade, the insurance company powered by artificial intelligence and behavioral economics, today announced the launch of a new product, Zero Everything, offering new and existing Lemonade members a ‘zero deductible’ upgrade, so they can file up to two claims each year with absolutely no deductible payments, no depreciation, and no rate hikes.

The launch of Lemonade’s Zero Everything marks the company’s first anniversary. launched in New York in September 2016, and has since expanded to CaliforniaNew JerseyIllinois and Texas, and has been licensed – and will launch soon – in 15 more states, reaching more than 50% of the US population.

“One of the motives behind Lemonade was to rebuild insurance around what makes sense to people, not insurance companies. That’s how Zero Everything was born,” said Daniel Schreiber, Lemonade cofounder and CEO. “People resent being ‘punished’ for using the product they paid plenty to use. Zero Everything is new and different. It allows you to receive your full replacement value, twice per year, every year, without your rates jumping. There’s nothing like it in market.”

With today’s launch of Zero Everything, Lemonade is moving from rethinking the fundamental business model of insurance and its customer experience, to tackling the underlying policy, and ensuring it is aligned with consumers’ wishes. Zero Everything is the closest thing to truly ‘undoing’ a loss.

“We want people to think about their Lemonade insurance as an Undo button for real life. You pay to have that undo button at hand, and you expect it to work when bad things happen,” said Shai Wininger, cofounder and Chief Lemonade Maker. “No gotchas, no paperwork, no faxes and no phone calls. Lemonade’s Zero Everything is a seamless, technology-powered product that undoes losses, in seconds.”

In the year since launch, Lemonade has attained considerable market share, especially among first-time insurance buyers. In New York Statealone, Lemonade overtook Allstate, GEICO, Farmers, Liberty Mutual, Progressive, State Farm, USAA and all other legacy insurers among first-time buyers of renters insurance.

New users can opt for Zero Everything when getting a policy, simply by choosing the Zero Everything option before purchasing a policy. Existing users can upgrade to Zero Everything instantly thanks to Lemonade’s Live Policy.

About Lemonade
Lemonade Insurance Company is a licensed insurance carrier, offering homeowners and renters insurance powered by artificial intelligence and behavioral economics. By replacing brokers and bureaucracy with bots and machine learning, Lemonade aims for zero paperwork and instant everything. As a Certified B-Corp, where underwriting profits go to nonprofits, Lemonade is remaking insurance as a social good, rather than a necessary evil. Lemonade is currently available in New YorkCaliforniaNew JerseyTexas and Illinois; licensed in 15 more states and looks set to expand nationwide.

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