Lemonade (NYSE:LMND), the digital insurance company powered by AI and social impact, announced the launch of Lemonade Car in Texas, making it the latest state to offer the company’s telematics-enabled car insurance and also the full suite of Lemonade insurance products. Texas is the second largest private passenger auto insurance market in the U.S. Lemonade […]
Lemonade Selects Mitchell’s Claims Management Solutions
Mitchell, an Enlyte company, today announced that Lemonade (NYSE:LMND) selected its claims workflow, automation, and total loss solutions to support Lemonade Car, the insurer’s latest product offering. Mitchell’s solutions—which span auto physical damage and auto casualty—will help Lemonade streamline and optimize claims handling. Lemonade Car launched in Illinois in November 2021, expanding to Tennessee and […]
Lemonade Sells Metromile’s Enterprise Business Solutions Platform
Lemonade (NYSE: LMND), the insurance company powered by AI and social impact, today announced the close of its divestiture of Metromile’s Enterprise Business Solutions (EBS) to digital insurance platform, EIS. EBS was Metromile’s SaaS claims automation and fraud detection platform which it licensed to large insurance carriers. The all-cash transaction was completed following the close […]
Lemonade Completes Acquisition of Metromile
Lemonade (NYSE:LMND) announced the closing of its previously announced acquisition of car insurance provider Metromile. Metromile shareholders received 7.3 million LMND shares, while Lemonade received a business with over $155 million in cash, over $110 million in premiums, an insurance entity licensed in 49 states, and a team unsurpassed in harnessing precision data for auto […]
Metromile Stockholders Approve Merger Agreement with Lemonade
Metromile (NASDAQ: MILE, MILEW) the digital insurance platform and pay-per-mile auto insurer, announced that at the Special Meeting of Stockholders held February 1, the Company’s stockholders approved proposal to adopt the merger agreement entered into with Lemonade, Inc. (NYSE: LMND) to acquire Metromile in an all-stock transaction that was previously announced. The merger proposal was […]
USAA’s Sean Burgess Named Chief Claims Officer at Lemonade
Lemonade announced the appointment of Sean Burgess as Chief Claims Officer. Burgess joins the insurance company after more than 25 years at USAA, serving the military community and their families. In his new role at Lemonade, Burgess will oversee the company’s key claims functions across the US and EU, and report to Gavin Blair, SVP, […]
Lemonade To Acquire Auto Insurer Metromile
Lemonade (NYSE:LMND) announced an agreement to acquire Metromile (NASDAQ: MILE, MILEW), the data science company focused on auto insurance, in an all-stock transaction that implies a fully diluted equity value of approximately $500 million, or just over $200 million net of cash. Under the terms of the transaction, Metromile shareholders will receive Lemonade common shares […]