This year’s Giveback marks more than $10
million donated to 86 organizations since inception, impacting
millions of people globally.
Lemonade (NYSE: LMND), the digital insurance company driven by
AI and social impact, announced its 2024 Giveback, marking the
eighth 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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This year’s Giveback donated $2,112,608 to 43 nonprofits
globally, supporting causes in healthcare, education, climate,
global poverty, animal rights, and more. Customers choose their
Giveback nonprofit Nonprofits when signing up for a Lemonade
renters, homeowners, car, or pet insurance policy.
The 2024 Giveback supports a range of transformative projects
globally and throughout the United States. For example, Pencils of
Promise, a nonprofit focused on access to quality education for
children, will use their Lemonade donation to build an entire
school for a community in Ghana, transforming the lives of more
than 200 students each year. The volunteer-based organization
Objective Zero Foundation will provide 24,500 American service
members, veterans, and family members access to PTSD support via
the Objective Zero app. New Story, a nonprofit focused on the
global housing crisis, will fund new homes for 100 families in an
underserved neighborhood in Jalisco, Mexico.
“Social impact is a core pillar of who we are as Lemonade and
has been since the very beginning,” said Shai Wininger, Lemonade
cofounder and President. “The tangible impact of our Giveback
program with more than $10 million donated since Lemonade’s
founding underscores the profound difference companies like ours
can make. Giveback reflects the collective power of community and
its ability to drive meaningful change, and that’s something we’re
very proud of.”
“We believe every child should have access to quality education,
driving our mission to create safe and healthy learning
environments where students can reach their full potential,” said
Brad Wisdom, Chief Global Advancement Officer at Pencils of
Promise. “This year marks five years working with Lemonade’s
Giveback program, and it’s been amazing to see the partnership grow
over that time. We’ve been able to provide technology resources to
schools, clean drinking water to thousands of classrooms, and now
we’re building an entire school directly from this year’s Giveback
donation—an incredible opportunity to impact so many childrens’
lives.”
The Lemonade Giveback has skyrocketed 3,873% since 2017, with
other notable contributions since its start including:
- More than 1 million students and teachers provided with
tools, resources, and opportunities to support their education
through organizations like Teach for America and Robin Hood.
- Meals provided to 624,693 people in need through
nonprofits including Feeding America and City Meals on Wheels.
- More than 40,000 people provided with access to clean and
safe drinking water through community projects, such as new
wells and taps, via charity: water and Pencils of Promise.
“We’re honored to partner with Lemonade and their community to
bring clean drinking water to over 28,000 people since 2017,” said
Scott Harrison, charity: water founder and CEO. “As one of
Lemonade’s earliest Giveback partners, we’ve seen firsthand how the
impact has compounded as Lemonade grows. Our partnership is proof
that when passionate, conscious companies and nonprofits team up,
the ability to create change is transformative.”
See this year’s full impact report outlining the organizations
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 X for updates.
FORWARD LOOKING STATEMENTS
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 are forward-looking statements,
including the date and time of the earnings call.
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 that we may not
achieve or maintain profitability in the future; our success and
ability to retain and expand our customer base; the "Lemonade"
brand may not become as widely known as incumbents' brands or the
brand may become tarnished; the denial of claims or our failure to
accurately and timely pay claims; our ability to attain greater
value from each user; availability of reinsurance at current levels
and prices; our exposure to counterparty risks; our limited
operating history; our ability to manage our growth effectively;
our proprietary artificial intelligence algorithms may not operate
properly or as expected; the intense competition in the segments of
the insurance industry in which we operate; our ability to maintain
our risk-based capital at the required levels; our ability to
expand our product offerings; the novelty of our business model and
its unpredictable efficacy and susceptibility to unintended
consequences; the possibility that we could be forced to modify or
eliminate our Giveback; regulatory risks, related to the operation,
development, and implementation of our proprietary artificial
intelligence algorithms and telematics based pricing model;
legislation or legal requirements that may affect how we
communicate with customers; the cyclical nature of the insurance
industry; our reliance on artificial intelligence, telematics,
mobile technology, and our digital platforms to collect data that
we utilize in our business; our ability to obtain additional
capital to the extent required to grow our business, which may not
be available on terms acceptable to us or at all; our actual or
perceived failure to protect customer information and other data as
a result of security incidents or real or perceived errors,
failures or bugs in our systems, website or app, respect customers’
privacy, or comply with data privacy and security laws and
regulations; periodic examinations by state insurance regulators;
underwriting risks accurately and charging competitive yet
profitable rates to customers; our ability to underwrite risks
accurately and charge competitive yet profitable rates to our
customers; potentially significant expenses incurred in connection
with any new products before generating revenue from such products;
risks associated with any costs incurred and other risks as we
expand our business in the U.S. and internationally; our ability to
comply with extensive insurance industry regulations; our ability
to comply with insurance regulators and additional reporting
requirements on insurance holding companies; our ability to predict
the impacts of severe weather events and catastrophes, including
the effects of climate change and global pandemics, on our business
and the global economy generally; increasing scrutiny, actions, and
changing expectations on environmental, social, and governance
matters; our agreement with General Catalyst as a synthetic agent
may not function as expected; fluctuations of our results of
operations on a quarterly and annual basis; our utilization of
customer and third party data in underwriting our policies;
limitations in the analytical models used to assess and predict our
exposure to catastrophe losses; potential losses could be greater
than our loss and loss adjustment expense reserves; the minimum
capital and surplus requirements our insurance subsidiaries are
required to have; assessments and other surcharges from state
guaranty funds; our status and obligations as a public benefit
corporation; our operations in Israel and the current political,
economic, and military instability, including the evolving conflict
in Israel and surrounding region.
These and other important factors are described under the
caption "Risk Factors" in our Annual Report on Form 10-K for the
fiscal year ended December 31, 2023 filed on February 28, 2024, and
in our other 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.
NEWS & INFORMATION DISCLOSURE
Investors should note that we may use our website
(investor.lemonade.com), blog (lemonade.com/blog), X
(@Lemonade_Inc), and LinkedIn as a means of disclosing information
and for complying with our disclosure obligations under Regulation
FD. The information we post through these channels may be deemed
material. Investors should monitor these channels in addition to
reviewing our press releases, SEC filings, and public conference
calls.
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version on businesswire.com: https://www.businesswire.com/news/home/20240718567599/en/
Press: Natalie Wilson press@lemonade.com
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