INSUBCONTINENT EXCLUSIVE:
Lemonade, the insurance platform based out of NYC, has filed a lawsuit against German company ONE Insurance, its parent company wefox, and
founder Julian Teicke.The complaint, filed in the United States District Court Southern District of NY, alleges that wefox reverse
the filing (which you can see on Pacer or here), Lemonade alleges that Teicke repeatedly registered for insurance on Lemonade under various
names and for various addresses, some of which do not exist
says Teicke started seven claims over the course of 20 days, prompting Lemonade to cancel his policy.Alongside Teicke, a number of other
agreement and taking an honesty pledge, which is required of all Lemonade users.This, according to Lemonade, violates the Computer Fraud and
insurance as easy as a few clicks on your smartphone
Digitizing the process makes the issue of getting home or renters insurance far less daunting and more approachable to consumers
Secondly, Lemonade rethought the business model of insurance.Normally, insurance providers charge you a certain monthly rate based on the
value of the property/items looking to be insured
But at the end of the year, the money remaining in that policy becomes profit, putting the insurance company in direct opposition to the
the leftover money to the charity of your choice, ensuring that Lemonade and the consumer are on the same page when a claim is filed.In
we have 160 talented people whose hard work has created a unique business that is challenging the status quo every day
These allegations have no merit and ultimately appear to be an attempt to disrupt our business rather than a serious dispute
further received no answer
We have not been served any paper from Lemonade: if we are, we intend to defend ourselves vigorously
This lawsuit appears to be an attempt to bait the media into covering a non-issue.
