Innovation in LEMONADE

Lemonade is working on...

• Service innovation

• Business model innovation

• Process innovation

• All answers are correct

Digital technologies are key for LEMONADE BUSINESS, particularly:

• to respond quickly to customer claims

• to save labor costs

• to detect fraudulent claims

• All answers are correct

Incumbents in insurance industry are...

• other startups with worse technological capabilities

• mature companies with high market share

• mature companies with outstanding technological capabilities

• All answers are uncorrect

The ambition of LEMONADE is to become a 'lovable brand' through

• Instant and quick service

• Great prices

• Providing help to charities...

• All answers are correct

Customer target in Lemonade are named HENRYs...

• because they are large families

• because they are young people earning high salaries

• because they are old people with many properties

• None answer is correct

About the Giveback program...

• customers may recover part of the price paid if there are no claims

• customers enjoy a discount in next services if there are no claims

• customers may donate part of the price to charities if there are no claims

• All answers are correct

About its main customers, LEMONADE is preferred by...

• Millennial segment (digital experience, social impact, low prices...)

• Companies (short processes and instant response)

• Charities and NGOs (because they receive additional funding)

• All answers are correct

About the insurtechies applied in Lemonade...

• They use virtual reality to register an accident

• They use chatbots and artificial intelligence to attend customers

• They use blockchain to record information

• All answers are true...

Regarding to strategic decisions in LEMONADE...

• They are considering to grow in Europe, perhaps beginning with The Netherlands

• Still they can increase their market share in USA

• Using digital technologies allow them to grow easier than incumbents

• All answers are correct

Among novelties in LEMONADE's business model we find...

• GIVEBACK program to donate a part of the claim when there is no claims

• The use of Airtificial Intelligence and chatbot to attend customer claims

• Monthly payments as a flat and cheaper fee

• All answers are correct