Lemonade is an insurance company with a difference. It is a certified B Corporation that has built a social good function into the way it does business. Nina Rauch explains how the Lemonade Giveback programme works.
Nina Rauch is Social Impact coordinator at Lemonade. She tells UK Fundraising’s Howard Lake about the B Corp’s approach to business and its rapidly growing Giveback programme.
The New York-based contents and liability insurance company provides homeowners, renters, and pet owners with insurance “powered by AI, behavioural economics, and driven by social good.” In fact, it states that it aims to “transform insurance from a necessary evil into a social good”.
Once a year, Lemonade adds up the unclaimed money left from policy holders payments and then gives back up to 40% of the unclaimed money to the nonprofit that the policyholder chose.
Nina explains how quickly this sum is growing each year.
A certified B Corps is a business that balances purpose and profit. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment.
Lemonade.com is expanding within Europe and is already active in Germany and the Netherlands.
You can find out more about Lemonade’s Giveback programme.
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