Here are two words you don’t often hear in the same sentence: revolutionary and insurance.
But that’s exactly what experts are calling a new peer-to-peer (P2P) insurance concept presented by startup Lemonade. Though the company has yet to open its doors, the adjective-laden praise has commenced. Bankrate muses that Lemonade may become the “the Uber of insurance” and Sequoia Capital’s Haim Sadger says his firm’s investment in the company was a no-brainer because “we’re betting that Lemonade will transform the insurance landscape beyond recognition.” Heady words from a venture capital firm that helped launch one-time startups Apple, Google and LinkedIn.
Lemonade recently secured $13 million from Sequoia and others in seed funding, which may not seem like much in the mega-billion dollar insurance industry. However, here’s some perspective: Uber’s initial round of funding garnered just $200,000, and the top seed investment amount in 2014 was $10 million for an analytics business named Kensho. Now you can see why many are calling Lemonade the next big thing.
The Bankrate article points out that a P2P insurance model usually involves a small group of policyholders who
Here are two words you don’t often hear in the same sentence: revolutionary and insurance.
But that’s exactly what experts are calling a new peer-to-peer (P2P) insurance concept presented by startup Lemonade. Though the company has yet to open its doors, the adjective-laden praise has commenced. Bankrate muses that Lemonade may become the “the Uber of insurance” and Sequoia Capital’s Haim Sadger says his firm’s investment in the company was a no-brainer because “we’re betting that Lemonade will transform the insurance landscape beyond recognition.” Heady words from a venture capital firm that helped launch one-time startups Apple, Google and LinkedIn.
Lemonade recently secured $13 million from Sequoia and others in seed funding, which may not seem like much in the mega-billion dollar insurance industry. However, here’s some perspective: Uber’s initial round of funding garnered just $200,000, and the top seed investment amount in 2014 was $10 million for an analytics business named Kensho. Now you can see why many are calling Lemonade the next big thing.
The Bankrate article points out that a P2P insurance model usually involves a small group of policyholders who
