Stroock Aids Launch of P2P Insurance Company
Stroock advised Lemonade, the world’s first peer to peer insurance company, which launched as a licensed homeowners insurance company in New York State. At Lemonade, technology drives everything from speed and ease of use to reducing costs from the entire insurance process. In the overwhelming majority of instances, Lemonade’s customers can get insured and settle claims instantly from any device via their mobile app. At the same time, the company has been architected according to principles of behavioral economics, with policyholders’ good behavior and good luck resulting in donations of underwriting profits to causes policyholders care about. The holding company is a Delaware public benefit corporation and a certified B-Corp, and Lemonade is remaking insurance as a social good, rather than a necessary evil. To read the press release, please click here.