Now in its seventh year, the Lemonade community
has given back $8,160,775 since the program debuted in 2017
Lemonade, (NYSE:LMND) the digital insurance company driven by AI
and social impact, announced its 2023 Giveback, marking the seventh
consecutive year of giving back to dozens of local and global
charities chosen by customers.
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the full release here:
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The 2023 Lemonade Giveback. (Graphic:
Lemonade)
This year’s Giveback saw $2,008,847 go to 58 nonprofits chosen
by Lemonade customers across the United States and Europe, ranging
from causes working on better healthcare, humanitarian crises,
civil rights, climate education, global poverty, and more. The
Lemonade community’s donations since the company’s first Giveback
in 2017 now totals $8,160,775.
A cornerstone of Lemonade's business model, Giveback allows
customers to support charitable causes of their choosing by
directing leftover premiums to organizations in need. Any Lemonade
customer can select the charity they’re passionate about when
getting Lemonade renters, homeowners, car, or pet insurance
policies.
“As a certified B-Corp and public benefit corporation, Giveback
is just one way Lemonade is able to weave social impact into our
products and business model, allowing our customers to do good
simply by being part of the Lemonade community,” said Shai
Wininger, co-CEO and cofounder, Lemonade. “As always, we’re
grateful we can help out our customers in their time of need, but
also have our customers be so impactful for communities in need
around the world, and for our planet, which is in dire need.”
“The most impactful partnerships we have not only build giving
into every aspect of the business, but also make generosity the
easy choice for customers," said Scott Harrison, Founder and CEO of
charity: water. "We're honored to partner with Lemonade and this
community of policyholders to bring clean drinking water to over
12,300 people since 2017. Their support means communities are
healthier. Dignity is restored. And instead of walking hours for
water that isn't safe to drink, women and children can go to
school, earn extra income, or simply spend more time with their
families."
Quick highlights from the 2023 Lemonade Giveback:
- The Lemonade Giveback grew by 7.2% compared to 2022, in a
year in which global giving dropped. 2023 was a rough year for
nonprofits globally: total giving fell 3.4%, and the number of
donors overall declined by 17% (Source: The Giving Index, Charities
Aid Foundation, Giving USA)
- Since 2017, the Giveback donation amount has skyrocketed by
3,678% - and some of the nonprofits have grown alongside it.
For example, in the first Lemonade Giveback in 2017, Lemonade
provided 592 meals for the hungry, while in 2023 total meals
donated by Lemonade grew to 60,676. And organizations like charity:
water, a Giveback partner since 2017, will grant 12 schools in
Bangladesh with clean, running water this year, bringing the total
over the years to 43 fully funded clean water projects across Asia
and Africa, supporting 12,300 people.
- Nearly a quarter of the 2023 Giveback is directed to local
and global climate organizations. Over the years, Lemonade has
donated $2,178,683 to our planet, resulting in the planting of
305,562 trees, provision of shelter, food, and veterinary care to
73,703 animals, and the construction of 43 water projects able to
supply clean water to 12,434 people for life.
- A third of the 2023 Giveback went to civil rights. From
causes supporting girls’ education (The Malala Fund and Code to
Inspire) to LGBTQ rights (The Trevor Project, ACLU) and gun safety
(March For Our Lives), the 2023 Lemonade Giveback supported a
plethora of organizations working to ensure and protect individual
rights around the world.
See this year’s full impact report here, and read about the
charities receiving a Giveback here.
About Lemonade
Lemonade offers renters, homeowners, car, pet, and life
insurance. Powered by artificial intelligence and social impact,
Lemonade’s full stack insurance carriers in the US and the EU
replace brokers and bureaucracy with bots and machine learning,
aiming for zero paperwork and instant everything. A Certified
B-Corp, Lemonade gives unused premiums to nonprofits selected by
its community, during its annual Giveback. Lemonade is currently
available in the United States, Germany, the Netherlands, France,
and the UK, and continues to expand globally.
Follow @lemonade_inc on Twitter for updates.
Cautionary Note Regarding Forward-Looking Statements
This Press Release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact
contained in this Press Release, including without limitation
statements regarding the anticipated benefits of our annual
Giveback program, are forward-looking statements. These statements
involve known and unknown risks, uncertainties and other important
factors that may cause our actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements.
These statements are neither promises nor guarantees, but
involve known and unknown risks, uncertainties and other important
factors that may cause our actual results, performance or
achievements expressed or implied to be materially different from
any future results, performance or achievements expressed or
implied by the forward-looking statements, including, but not
limited to the following: our history of losses and the fact that
we may not achieve or maintain profitability in the future; our
ability to retain and expand our customer base; risks related to
the "Lemonade" brand; risks related to denial of claims or our
failure to accurately and timely pay claims; our ability to attain
greater value from each user; risks related to the novelty of our
business model; risks related to our Giveback; risks related to our
limited operating history and our ability to evaluate our current
business performance, implement our business model, and our future
prospects; our ability to manage our growth effectively; the
intense competition in the segments of the insurance industry in
which we operate; risks related to reinsurance, including the
availability of reinsurance at current levels and prices and
counterparty risk; our ability to maintain our risk-based capital
at the required levels; our ability to expand our product
offerings; risks related to the operation and confidentiality of
our proprietary artificial intelligence algorithms and proprietary
technology; new legislation or legal requirements which may affect
how we communicate with our customers; risks related to our
reliance on artificial intelligence, telematics, mobile technology
and our digital platforms to collect data that we evaluate in
pricing and underwriting our insurance policies, managing claims
and customer support, and improving business processes, and any
legal or regulatory requirements that prohibit or restrict our
ability to collect or use this data; our reliance on search
engines, social media platforms, digital app stores, content-based
online advertising and other online sources to attract consumers to
our website and our online app; our ability to raise additional
capital to grow our business; risks related to security incidents
or real or perceived errors, failures or bugs in our systems,
website or app; risks related to examinations by our primary state
insurance regulators and examinations or investigations by other
states in which we are licensed to operate; risks related to our
collection and use of customer information and other data, and our
ability to protect such information and comply with data privacy
and security laws and regulations; our ability to underwrite risks
accurately and charge competitive yet profitable rates to our
customers; risks related to our ability to generate revenues from
new products; risks related to our expansion within the United
States and any future international expansion strategy; risks
related to combining the businesses of Lemonade and Metromile and
the potential failure to realize the anticipated benefits of the
mergers; risks related to the historically cyclical nature of the
insurance business; risks related to extensive insurance industry
regulations; risks related to severe weather events and other
catastrophes, including the effects of climate change and global
pandemics which are inherently unpredictable; climate risks,
including risks associated with disruptions caused by the
transition to a low-carbon economy; risks related to increasing
scrutiny, actions and changing expectations from investors,
clients, regulators and our employees with respect to
environmental, social and governance matters; risks related to
fluctuations in our results of operations on a quarterly and annual
basis; risks related to utilizing customer and third party data for
pricing and underwriting our insurance policies; risks related to
limitations in the analytical models used to assess and predict our
exposure to catastrophe losses; risks related to potential losses
that could be greater than our loss and loss adjustment expense
reserves; risks related to the minimum capital and surplus
requirements that our insurance subsidiaries are required to have;
risks related to assessments and other surcharges from state
guaranty funds, and mandatory state insurance facilities; risks
related to our status and obligations as a public benefit
corporation; risks related to significant shareholders and their
ability to influence the outcome of important transactions,
including a change in control; and risks related to our operations
in Israel and the current political, economic, and military
environment.
These and other important factors described under the caption
"Risk Factors" in our Annual Report on Form 10-K for the fiscal
year ended December 31, 2022 filed on March 3, 2023 and in our
other and subsequent filings with the SEC, could cause actual
results to differ materially from those indicated by the
forward-looking statements made in this Press Release. Any such
forward-looking statements represent management’s beliefs as of the
date of this Press Release. While we may elect to update such
forward-looking statements at some point in the future, we disclaim
any obligation to do so, even if subsequent events cause our views
to change.
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version on businesswire.com: https://www.businesswire.com/news/home/20230712934106/en/
Yael Wissner-Levy press@lemonade.com
Lemonade (NYSE:LMND)
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