Case Study

Lemonade

Challenge

Lemonade is the world’s first self-service, peer-to-peer insurance carrier. Lemonade has redesigned insurance by harnessing the power of behavioral economics and the essence of the sharing economy. Its peer-to-peer model is designed to be far easier for consumers, cost less, and replace the many conflicts of interest that currently plague the industry. While the traditional insurance model has inherently misaligned incentives between insurers and consumers because denying claims increases profits, Lemonade removes this by taking a fixed percentage of the premium, meaning it has no incentive to reject claims or make life difficult for its customers. Given its entirely new approach, not surprisingly, Lemonade faced issues with insurance regulators in a number of states.

Approach

Tusk first led Lemonade’s regulatory campaign strategy to break through an impasse with New York insurance regulators over Lemonade’s license application. We succeeded in reaching a resolution, enabling Lemonade to secure its primary license  and launch operations. We then replicated the model nationally, working in California, Texas, Florida, Illinois, Pennsylvania, Georgia, New Jersey, Nevada and many other states to allow Lemonade to launch. At the same time, Tusk also helped maximize earned media to effectively position Lemonade to regulators, legislators and the public, and helped develop partnerships with real estate developers, asset managers, municipal agencies and non-profits.

Results

Lemonade was able to successfully launch in New York, California, Texas, Illinois, Nevada, and many other states.  In addition, the “Lemonade Law” was passed by the Florida legislature in 2017, paving the way for their expansion.   

100k

Homes insured by Lemonade
since January 2017

Working with Bradley and his team was indispensable during Lemonade’s early days. Their know-how and execution are paramount, and we’re proud they’ve joined our mission to reinvent insurance into a social good.

Daniel Schreiber

Cofounder & CEO, Lemonade