Lemonade
Finance and crypto
insurance
SHOW HN2016
185points
167comments
#152of 2,264 in 2016
Top 7%of 2016 by points
How HN took it
MixedNo clear lean
3 positive, 44 neutral or asking, 2 mixed, 47 critical, out of 96 comments about the project. Thread score -0.40.
Idea: 1 for, 20 againstDesign: 1 for, 13 againstPricing: 1 for, 7 againstDocs: 0 for, 3 againstExecution: 0 for, 3 against
The thread, comment by comment
Each row is a top-level comment and its replies, in HN's order. Select a cell to open that comment on HN.
positive neutral or mixed critical about another commenter or something else the maker
What HN said
What people liked
Quote flow is simple and explains each item clearly
From 1 comment
So I tried out Maya and I just gotta say, great stuff! You ask for the bare minimum stuff, deduce the rest yourself, let the user play around with the numbers and give them an…
xerophyte12932 on HN
Interest in mutual insurance backed by good tech
From 1 comment
I have to say, I'm pretty excited by this. Mutual insurance companies have existed for a good while, but they're not easy to find. Having one that's married to great tech…
kateho on HN
Objections
Quote funnel asks for too much personal information before showing a price
From 4 comments
I got to "enter your name" and leaked out of the funnel. I'm willing to give up my zip code to find out how you compare to my current provider. Give me some good rates to entice…
CodeWriter23 on HNI read some of the comments about the funnel and I set out to try it myself. There are 8 steps to get a quote 1. First and last name 2. Full address 3. question (renter/owner) 4.…
avitzurel on HNHonestly having to give the page all of my information before even being able to see a price or actually really even find out what it was selling turned me off. Didn't bother…
zodPod on HN@gilsadis, in response to your request for information above: As others related, this isn't a bug report. This is about the design of your conversion funnel and the…
CodeWriter23 on HN
P2P label is confusing and mutual insurance is not new
From 3 comments
This is wildly un-new. Mutual insurance companies have existed for literally hundreds of years. Oldest one I can find in 5 minutes dates to 1762, and if you include merchant…
h4nkoslo on HNThis looks awesome I might check it out. But the "P2P" branding is likely going to be confusing to a lot of people. In fact even after reading the explanation I still don't…
mikeryan on HNFrom what I can tell P2P means it's essentially an insurance co-op. It's definitely not a world first - I had renters insurance over 10 years ago that worked this way (except I…
CaveTech on HN
Only available for New York zip codes
From 2 comments
I don't follow how this is P2P, and unfortunately it seems only available for New York zip codes?
utternerd on HNHmmm. I think the interaction where it says that it is not yet available in my area and to try again with a New York address could be improved a little. Go ahead and let me enter…
d2xdy2 on HN
Incentive conflict with charitable tax write-offs and claim payouts
From 2 comments
Are you guys getting a tax write off for the charitable donations from the surplus pool? If so, wouldn't that give Lemonade a financial incentive to decline payouts in favor…
aerialfish on HNIf they pay claims super fast and earn no money saying "no", how, as a customer, can I be sure other customers do not make fake claims and decrease my share of leftover money? Or…
bm371613 on HN
Requests
Quote from zip code alone before asking for name or address
From 2 comments
I will answer you as nobody else will. Hacker News users are interested in this idea, but don't want to divulge their actual address to get a "price quote". Ideally, they'd like…
x2f10 on HNI read some of the comments about the funnel and I set out to try it myself. There are 8 steps to get a quote 1. First and last name 2. Full address 3. question (renter/owner) 4.…
avitzurel on HN
Return surplus to customers rather than charity
From 3 comments
Why not give the leftovers back to customers? There's incentive in that to be a lower risk client.
neximo64 on HNWhy not just pay out excess money to the members? Or to non-claimers to encourage good risk behavior?
andriesm on HNHow is this more "P2P" than other insurance companies are? Non-profit, yes, but the mechanism seems to be the same. There is still a central pot everybody pays into. I would like…
allendoerfer on HN
Questions
How is this P2P rather than a central pool?
From 2 comments
How is this more "P2P" than other insurance companies are? Non-profit, yes, but the mechanism seems to be the same. There is still a central pot everybody pays into. I would like…
allendoerfer on HNI don't follow how this is P2P, and unfortunately it seems only available for New York zip codes?
utternerd on HN
What is the relationship with Goldman Sachs?
From 1 comment
What is Lemonade's relationship with Goldman Sachs?
ojgeojaga on HN
Alternatives named
Mutual insurance companies
From 1 comment
This is wildly un-new. Mutual insurance companies have existed for literally hundreds of years. Oldest one I can find in 5 minutes dates to 1762, and if you include merchant…
h4nkoslo on HN
heyguevara.com P2P car insurance UK
From 2 comments
Not sure it's the first. At least, I know of https://heyguevara.com/ is a P2P car insurance provider in the UK that is registered with the FSA and licensed to provide insurance…
buro9 on HNCool concept, looking forward to seeing roll out. Under your definition of p2p would heyguevara.com not fall into this too?
vjvj on HN
So-Sure social phone insurance UK
From 1 comment
A better -- but still not really P2P -- example of social insurance is https://wearesosure.com (UK mobile phone only for now) With So-Sure you link up with friends and are…
ag56 on HN