“Lemonade is a tech company”

Lemonade cofounder Shai Wininger shares stats from the first 48 hours after debuting its renters insurance product in NY, stating the company is a tech company.

• Majority of Lemonade’s visitors were male
• 14.8% conversion rate
• 22% left State Farm, 18% left Allstate and 14% left Geico to switch to Lemonade
• Average renters policy sold for $86.25
• Average condo policy sold for $528
• Average homeowners sold for $691
• Bottom Line: $14,302 GWP (Gross Premium Written)