LMND News & Events

Lemonade announced the launch of its renters insurance product in South Carolina. The expansion brings Lemonade's digital, customizable coverage to renters statewide, further strengthening the company's presence across the United States. Lemonade Renters is designed to cover the stuff renters love while delivering a best-in-class customer experience. Policies start from $5 per month and are built to be flexible, allowing customers to select coverage amounts and deductibles that fit their lifestyle and budget

In an interview on CNBC's Mad Money, Daniel Schreiber said Lemonade was founded as an AI company back in 2015. Most claims are handled without human contact in a matter of seconds, he noted. The average time to buy renters insurance is a minute and a half. According to Schreiber, "The company is moving at a stunning pace. We are on a tear." He expects Lemonade to be EBITDA and cash flow positive this year.