I have landed on Lemonade website during my morning routine, reading news about automation, machine learning, artificial intelligence. The first claim I read about this company has been “Lemonade uses bots to deliver insurance to consumers through its app and website.” And this is quite well illustrated by the video above.

Soon after reading the article about a startup I am usually referring to CrunchBase to learn more about the organisation’s history, investors and funding path. Lemonade raised total equity funding of $60M in 3 rounds from 8 investors.

Then, I read this text in the CrunchBase’s company details panel:

Lemonade Insurance Company is a licensed insurance carrier, offering homeowners and renters insurance powered by artificial intelligence and behavioral economics. By replacing brokers and bureaucracy with bots and machine learning, Lemonade promises zero paperwork and instant everything. And as a Certified B-Corp, where underwriting profits go to nonprofits, Lemonade is remaking insurance as a social good, rather than a necessary evil.

I was positively surprised by the discovery that Lemonade is a Certified B Corp. Even if I am not a strong fan of the current “startup way”, I like this unique blend of technology and social innovation appearing more and more frequently in novel organisations all over the world.

Not only the market dynamics, business tools, and technologies are changing faster and continuously. Another big factor is the shift in the mindset of people, employees and consumers.

Startups and young organizations have the critical opportunity to design their business models, organizational structures and impact models seamlessly. Melting together the care in designing, producing and selling products that are not only profitable for the company, safe for the consumers and the environment, they can also contribute to rebuilding entire economic systems, good for the society in a wider meaning.

Looking back to Lemonade, I have also landed on the following video having the title “The Science Behind Lemonade“. Hitting the play on YouTube I was expecting the usual “geeky” video about technology. Surprisingly, the Science they are talking about is not technology, but the approach to solving the conflict of interests in the current insurance business model. The video is mainly about their business model, organizational model, and social impact approach.

Daniel Schreiber, CEO and Co-Founder explains:

But making insurance instantaneous and delightful takes more than breakthrough technology, it takes a new way of doing business. One that’s less conflicted. Insurance that is a social good rather than just necessary evil. And that takes new business models, new actuarial models, and new corporate structures.

I will keep following Lemonade to see if they will succeed in their purposes. For now, I have this good feeling about the future of a totally new breed of businesses.

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