Lemonade - Forget everything you know about insurance

Do you have any policies that protect your guests / friends as well? One of the nasty things folks often overlook is that if you leave the sink running and it floods your house, your insurance will cover it. If your grandmother accidentally leaves it on while in your home, the insurance pays it and then sues your grandmother. I'd love an option to have my guests extended the same protection as me, when in my home and on my property. Great work.

Great stuff! Look forward to when you make your way out to the Bay Area!

P2P or B2B insurance was invented a few centuries ago with the expansion of the European Merchant Fleet (Specially the British but also the Portuguese, Dutch, Netherlands, etc) and continues until today. But it happens that it's not actually called insurance (because in any p2p system there isn't actual "insurance" as the definition of insuring implies that the risks are transferred from the insured to the underwriter — the most similar case would be a company that self insures — which it in itself is an oxymoron — because when it does it with respect to a risk what actually is doing in not insuring (managing) the risk at all and just playing the odds (betting) that any accidental disaster that occurs during the period when they lack insurance will cost less to fix than the premium that they had payed to transfer the risk to a third party or parties. The proper name for the "coverage" provided by these b2b entities is called Protection and Indemnity, in short P&I, because they provide protection and indemnity against claims for damages made by third parties, the entities that provide the coverage are called P&I Clubs. These Clubs are actually non for profit institutions formed solely by the members which select the board, the management company that have some sits on the board and aprove every mayor decision of the club. The members are the Vessels Operators and Owners that pay: a) advanced disbursement (premiums) on the policy year, b) deferred premiums for up to four years to cover all claims that weren't predicted or that due to lower returns or even loses on the massive reserves they have to hold but invest make a significant change in the financial situation of the club, and c) especial disbursement called especial calls that arise from one or two very significants claims (in the few hundreds millions of dollars) that as unpredictable goes directly to the reserve requirements of the club that has to be re-equilibrated with near cash payments from the menbers. The club in it self belongs to an institution that is call the Club of clubs where most of the clubs join efforts to help each other to pay from a common pool medium (over 10 million $ and very large from 400 hundred million to infinite claims) and to purchase reinsurance in excess of 1 billion per claim. If there was a good policy year - in results - for the P&I and there's excess of reserves the deferred premiums budgeted for that policy year are lowered or not called. Was this system was created and is it still the sole way to seek cover from claims to all type of large vessels because its the cheapest? No. But because the risk and the accident rate are so high that no insurance company or syndicate would be capable to underwrite the risks without risking heavily bankruptcy. Most countries have prohibited insurance companie, underwriters or syndicates by law to cover these type of risk for any type of vessel that its larger than X thousands GT, which is even lower in the case of passenger vessels, NLG, Tankers, etc... This b2b is nothing else than "self insurance" (as I said is no insurance at all, at least until the individual claim is above a billion that the excess over the billion is covered by the underwriters) by many owners and operators (of the developed world) to playing the odds and spreading the losses and gains among many so it hurts less. So anyone that say that insurance p2p or b2b have to cost lest than regular insurance does not know little about insurance, because reinsuring the risk cost more money if you don't keep any of the risk and reinsurers don't want to pay claims... and have a saying and the next year your company reinsurance premiums have skyrocketed. If its pure or 80% p2p is not insurance but what have been badly named "self insurance" and if you don't have large reserves insvested with a good return... the first bad year the company is filling for bankruptcy... If you give what would be your reserves to charity... you will be a happy man, your policy takers won't as soon as they find out their claims is more than their current year premiums. Its been working for more than 400 years... nothing new but new acronyms, the institution of the Clubs is even older than Lloyds (The Original Syndicate) itself.

Any chance of adding car insurance ? I'm in New York and it's expensive

I am failing to see how this is P2P - P2P would involve peer insurance selling and buying - please explain if I'm missing something, why is this not a 10,000 year old insurance model, with startup-chic branding?

Congrats! I'd love to know more about how you validated and did customer development. Getting people to trust non-human is a big step, especially for insurance!

Wow, this looks absolutely superb! I wish you all the best. There's just one thing. As an early adopter I get excited about new services really quickly. That's cool because I'm usually the first to try out this brand new streaming service. I mean, what do I have to lose? Sometimes I have to differentiate between the small things that make life easier and the decisions that might have a huge impact on my life. I can't see anything wrong with your service. I actually welcome the change because I agree with the major flaw of regular insurance companies. But do I really want to put the responsibility of paying the costs for my house burning down in the hands of a startup? Yeah I know, A rated insurance, all is good and I believe you. However it seems like you're completely new to the business. I mean, how often do I watch a Kickstarter video and think to myself "this is such a great idea" and yet 15 million dollar of funding later they still screw it up. The money is gone and everything happened because they didn't know the business they were getting into. It just seems like a tough call for a major decision like insurance.

If the insurance is not available in my region, it shouldn't be in my App Store either.

Also, there is a minor bug with the background image in the drawer

When life gives you lemons, you spread social good with an awesome insurance product! Can't wait to see it evolving. I'll be able to share with my kids that I was at the beginning of the revolution. :-)