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Had I read this prompt before March 2020, I would've unequivocally had stated Robinhood. However, with a history of opening markets late and, most recently, providing unclear rationale into limiting the purchase of specific stocks, I've tempered my loyalty towards the company, which aspires to "democratize finance for all." Cautiously aware of the fintech parallel, the company's visionary story I would like to highlight is Lemonade, "Insurance built for the 21st Century".
Lemonade entered the market offering homeowners and renters insurance keyed in on the Millennial and Gen Z demographic. They've recently expanded into pet and life insurances. One can assume they have lifestyle brand aspirations, serving their demographic the insurance product they need as they enter different life stages. Caveat- our betta fish Brett doesn't qualify under Lemonade's pet coverage, a missed cross-sell opportunity for the fish-owning customer, haha.
What story does "Insurance built for the 21st Century" share?
Lemonade recognizes buying trends that align with my interests, an individual that is within their target demographic. They've captured my brand loyalty by understanding what many Millennials/Gen Z are looking for from an insurance provider, disruption. Here are the specific trends that Lemonade has "built" their company around:
Ease - Get insured in 90 seconds.
Speed - In the unfortunate situation where you need to rely on your insurance, many claims are processed and paid in 3 minutes.
Transparency - They take a flat fee, accounting for anticipated risks and desired returns, and donate any remaining funds.
Social Impact - They're a certified B Corp. You chose the cause you want to support from a vetted list of organizations, and they'll direct any overpayment their way. Lemonade will provide you a beautiful infographic at the end of the year, showing the social impact your insurance choice has provided. (I almost put "infographic" as a bullet point because of the surge in visual communication that Lemonade, too, has adopted)
Steven Denning advised the importance of communicating a complex story in "less than 60 seconds". Lemonade's succinct vision and homepage (view here) walking you through life as a customer accomplishes precisely that.
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