New UK record? Insurance company Lemonade pays claim in 2 seconds

Lemonade, the insurance company driven by artificial intelligence and behavioural economics, announced today it believes it has broken a UK record for the fastest payment of a claim. The whole process, from review to payment, took only 2 seconds – with zero paperwork!

On May 29, 2023, Federico, a Lemonade customer, locked his bike on a street in London to go buy food at a supermarket in Bloomsbury, London. When he returned 15 minutes later, he discovered his bike had disappeared, and that his bike chain had been cut apart.
Federico filed a police report shortly after, and opened up his Lemonade app to file a claim. At exactly 19:08 and 45 seconds, he submitted his claim, after quickly chatting with Lemonade’s claims bot, AI Jim, providing the relevant information and a short video account of what had been stolen.

Within 2 seconds, AI Jim assessed the claim, checked the policy conditions, performed dozens of anti-fraud algorithms, and then approved the claim, sent payment instructions to the bank, and informed Federico that the claim had been accepted.

“My experience with Lemonade was great! The claim was processed in a few seconds. There is nothing more that I could have hoped for. Thanks again for the support and greatservice!” – Federico F.

“As of today, the time to beat is two seconds. We hope that others will rise to the challenge,” said Daniel Schreiber, CEO and co-founder of Lemonade. “Our #1 job is to be there for our customers in times of need, and being powered by AI lets our claims bot, Jim, review and approve claims fast and with zero hassle for our customers, 24/7. This is what 21st century insurance feels like.”

Lemonade offers AI-powered Contents insurance in the UK, with a simple and transparent insurance policy and a user experience that is instant and delightful. Lemonade originally launched in the United States in 2016, and is also available in Germany, France, and the Netherlands. Customers can get Contents insurance through Lemonade.com/uk or the app – wherever and whenever they want. Submitting a claim and getting paid immediately is just as easy. Unlike traditional insurers, the profits of the company are fixed. Unclaimed
premium is donated to a charity chosen by the consumer through the Giveback program. The Giveback has earned Lemonade B Corp certification.