New UK record? Lemonade pays claim in two seconds

Lemonade believes it has broken the UK record for the fastest claims payment. 

The process, from review to payment, took just two seconds, according to the insurtech—with no paperwork. 

On 29 May of this year, Federico, a Lemonade customer, locked his bike on a street while he went to 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 was cut. 

Federico filed a police report shortly after and opened his Lemonade app to file a claim. 

At exactly 19:08 and 45 seconds, he submitted his claim after chatting with Lemonade’s claims bot, AI Jim, providing the relevant information and a short video of what was stolen. 

According to the insurtech, within two seconds, AI Jim assessed the claim, checked the policy conditions, performed dozens of anti-fraud algorithms, approved the claim, sent payment instructions to the bank, and informed Federico that the claim was accepted.  

Reflecting on the service he received, Federico said: “My experience with Lemonade was great! The claim was processed in a few seconds. There is nothing more that I could have hoped for.” 

Daniel Schreiber, chief executive officer and co-founder of Lemonade, spoke about the modern insurance model. He said: “This is what 21st-century insurance feels like. Lemonade offers AI-powered insurance in the UK, with a simple and transparent insurance policy with an instant user experience.” 

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