A Gen Z favorite
I was recently working for a client in the insurance industry and through my trendwatch, I stumbled upon Lemonade, “millennial’s and gen Z’s favorite insurance brand”.
Why is that so ?
The founders’ vision was to be “online only (no paper or insurance brokers), low-cost, easy to deal with and trustworthy.” By being a licensed carrier, retaining claim liability, and using AI and machine learning they settle claims and pay their clients in record times and whatever money is left is given to a charity chosen by the client.
An insurer that “gives back”
On the “giveback” page, one can read : “Lemonade takes a flat fee and treats the rest of the money as yours, not ours.”
The company’s website indicates that $8,160,775 has been donated since 2017.
The online design system represents what the company stands for : simplicity. The use of childish illustration and a rounded typography in the logo drive friendliness.
A snack content approach
The main insight of their latest ad campaign is focused on simplicity. The poor guy in the ad goes through the pages of his insurance contract and sees nothing but complex and mysterious symbols that are impossible to understand.
Lemonade has a content strategy based on entertaining snack content. When puppies are not enough cuteness, they invite kids into the equation. The first question a little boy asks : “Is insurance a scam ?”. This mix of cuteness and vulnerability is known to be a Gen Z favorite. #Wholesome
If they want their experts to tell consumers about what makes Lemonade great, they don’t just make a video saying so. They turn it into a fun employee pop quiz as a TikToker would.
Lemonade does not have the most inspiring founding story because it’s the product of two business men who come together around an industry which they believed they could disrupt using technology.
Yet, the result is a success because they found a key insight and turned it around.
“Lemonade can’t profit from denying legit claims, and customers making bogus claims are cheating charity, not some greedy insurer.”
— Forbes
By not profiting from the money clients don’t use, they became the first insurance company to eliminate the mistrust between insurance and customers.
Worlds. 