Spotlight on Lemonade

Of the more than 32 million businesses in the United States, only about 2,500 are certified B corporations, denoting exceptional commitment to benefiting society, communities and the environment. Carpenter Group’s Brand Acts of Kindness® series has spotlighted two B corporations over the past six months — Ben & Jerry’s and Amalgamated Bank. Lemonade Insurance Company becomes the third.

Founded in 2015, Lemonade offers rental, home and pet insurance in the United States as well as contents and liability coverage in Germany and the Netherlands. Relying on artificial intelligence and machine learning rather than on brokers and claims agents, Lemonade aims to shrink paperwork and response times, keep premiums low and deliver on its promise “to transform insurance from a necessary evil into a social good,” in the words of founder and CEO Daniel Schreiber.

 To accomplish that goal, the company engineered a first-of-its-kind philanthropic program—the Lemonade Giveback—in 2016. After taking a flat fee from each policyholder’s monthly premium, the rest is used to pay claims, and whatever is left is given back to charitable causes of the customer’s choosing.

“Giveback isn’t a CSR (Corporate Social Responsibility) initiative that’s sprinkled on top of our business model,” Schreiber says. “It’s baked into our business model and into every policy we sell.” It’s also part and parcel of Lemonade’s brand, expressed on the company’s website: “Instant everything. No brainer prices. Big Heart.” In Lemonade, which went public in 2020, Carpenter Group saw a company that epitomized the notion of doing well by doing good.

The Lemonade Giveback has grown exponentially in its first three full years—from $50,000 in 2017 to nearly $1.3 million in 2020—funding over 90 organizations focused on COVID-19, youth education, the homeless, racial justice, veterans and LGBTQ rights. This year, not surprisingly, a large percentage of customers switched their Giveback cause to Direct Relief, a global humanitarian aid organization supplying critical medical supplies for frontline medical workers. And, as the coronavirus exploded across the globe, Lemonade moved quickly to support economically stricken customers, allowing them to defer their payments for up to 60 days and extending grace periods up to 60 days for those who’d already fallen behind.

 At the same time, the company seamlessly shifted its entire workforce to a work-from-home basis. “We’re a fully digital company,” says Schreiber, “which means our machine learning, artificial intelligence, and claims process can continue to work from anywhere without missing a beat. More than ever, were grateful that our business allows us to take care of our customers while they take care of their communities.”

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About Brand Acts of Kindness® 

Brand Acts of Kindness® is a series from Carpenter Group that spotlights companies across industries that are living their brand values in addressing the unprecedented challenges facing the world today.

The series initially headlined companies assisting healthcare workers and first responders, as well as communities, businesses and families impacted by the COVID-19 pandemic. We also highlight brands taking the lead in supporting social and racial justice, LGBTQ rights, sustainability and the environment. Their stories show how innovation, resolve and action, built on a solid value proposition, can both strengthen a brand and help create a better world.

About Carpenter Group

Carpenter Group is an independent, woman-owned strategic branding, messaging and marketing communications firm that has delivered results-driven solutions to financial, professional services and technology firms for 30+ years.

Our broad cross-discipline experience enables us to craft brand messaging and carry it through to the channels that most effectively connect with our clients’ target audience, from editorial content to advertising to event marketing and more.