Artificial intelligence-based insurance


CEO Daniel Schreiber and partner Shai Wininger


Aleph, Sequoia, GV, Allianz, General Catalyst, XL Catlin, Thrive Capital, Tusk Ventures, Sound Ventures

2016 2016
$60M $60M
54 54
"Insurance is one of the most hated subjects. It wasn't an obvious choice"
"In a trillion-dollar industry, even a small share amounts to billions."
Shiri Dover

In order to understand the idea behind startup Lemonade, start with the company's refreshing name. "The name chose us," explains Lemonade cofounding partner Shai Wininger. "It comes from the saying, 'If life gives you lemons, make lemonade.' In our case, it means that we might not be able to prevent your house from burning down, but we can sweeten the experience." Lemonade, he explains, is "an insurance company based on artificial intelligence and behavioral economics."

Wininger (44) and CEO Daniel Schreiber (45) are experienced technology entrepreneurs. Wininger was a cofounder of Fiverr.com, while Schreiber was a senior executive at SanDisk Corporation. Prof. Dan Ariely, who joined in early 2016, is responsible for behavioral economics in the company.

"In late 2014, I decided that I wanted to build something bigger," Wininger says. "I was attracted to the financial sector, and I began as an investor. Many people do that, but few really understand the mechanics of financial investment. I took a year off and studied the subject seriously. I didn't even know what I was going to do with it all, but I found myself drawn in. I'm very involved in the local technology community and meet many entrepreneurs in my daily life. I suddenly realized that the financial industry is one of the most important industries and holds most of the world's money, but there isn't much innovation in it."

טארטאפים - lemonade-office-2 / צילום: שלומי יוסף"

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