Lemonade, Inc. KBW Insurance Conference 2026
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All right, great. All right, we're going to go ahead and get started here. This is sadly our last session of the KBW Insurance Conference.
Why not? But we go out with a bang.
All right. with Lemonade here.
So thank you to Tim for joining us.
You bet. Tim, maybe I'll start off.
Some news that came out from the recent quarter, you're going to be transitioning from CFO to a board seat. So maybe talk about how did that transpire.
Sure. Why is this the right time for that move?
Sure. At Lemonade, we try and do everything pretty methodically, including succession planning. This is not a sudden or new transition. It has been in the works for quite some time. I have been CFO with Lemonade 9+ years. I have been a CFO in New York for various companies for about 25. We have an extraordinary in-house candidate, Nick Stead, who will be taking over in January. I have been asked to join the board of directors, which is a little unique. Again, we try and do things a little differently at Lemonade. I think that will be a great opportunity for the company and for me to provide a little bit of continuity. We announced that, then January 1st will be the transition date, and Nick will take over full time at that point. He has been with the company five years.
A real superstar, a financial genius. I think he will do great work.
Mm-hmm. Surely a question for Nick, but from speaking with him, do you expect any sort of major moves in terms of changing in how guidance or sort of approaching financial presentations, anything?
I would not expect big changes.
It's one of the benefits of being able to bring an internal candidate versus an external candidate. We've been side by side with Shai and Daniel, our two founders, for years now. I wouldn't expect dramatic changes. I would hope for perhaps just a slight quality upgrade. He's a young, smart, ambitious guy. I'm sure he'll have some thoughtful ways of improving the communication and continuing to do what we do.
Mm-hmm. Yeah. All my conversations with him, I've found him to be certainly a viable candidate.
Good stuff. for the role.
All right. We'll kind of switch into the business side of things. I always think one of the most impressive things about Lemonade is the consistency of growing 30% across markets where, especially in today's softening market, everybody's clamoring for any sort of growth that you can find when you're fighting these rate headwinds. You guys are planning for 30+% growth this year. The long-term goal is 30+%. What makes 30% feasible? Yeah.
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