Lemonade, Inc. Provides Earnings Guidance for the Third Quarter Ending September 30, 2022 and Full Year Ending December 31, 2022
August 08, 2022 at 04:58 pm EDT
Share
Lemonade, Inc. provided earnings guidance for the third quarter ending September 30, 2022 and full year ending December 31, 2022. For the quarter, the company expects in force premium to be in the range of $595 million to $600 million, gross earned premium to be in the range of $127 million to $129 million and revenue to be in the range of $63 million to $65 million.
For the full year, the company expects in force premium to be in the range of $610 million to $615 million, gross earned premium to be in the range of $476 million to $480 million and revenue to be in the range of $236 million to $239 million.
Lemonade, Inc. offers renters, homeowners, car, pet, and life insurance. The Company's full stack insurance carriers, powered by artificial intelligence, in the United States and the European Union replace brokers and bureaucracy with bots and machine learning. The Company's digital substrate enables it to integrate marketing and onboarding with underwriting and claims processing, collecting and deploying data. Its technology includes Data Advantage, AI Maya, AI Jim, CX.AI, Forensic Graph, Blender and Cooper. AI Maya, its onboarding and customer experience bot, uses natural language to guide customers in joining the Company. AI Jim, its claims bot, takes the first notice of loss from its customer making a claim, paying the claimant or declining the claim without human intervention. It offers pet insurance that covers diagnostics, procedures, medication, accidents or illness. Even its basic pet insurance offering covers blood tests, urinalysis, lab work, and computed tomography scans.
LEMONADE, INC. 
