NEW YORK–(BUSINESS WIRE) –Lemonade, the insurance company based on artificial intelligence and behavioral economics, has announced that it has elected two new members to its board of directors, Irina Novoselsky and Silvija Martincevic, with immediate effect.
Irina Novoselsky is a seasoned technology leader, with a strong track record of growth and operational efficiency for complex global organizations. She is currently the CEO and Board Member of CareerBuilder, a global talent acquisition and SaaS media company. Previously, she was President of Novitex Enterprise Solutions, a technology outsourcing company. Prior to Novitex, Irina was an Investment Professional at Apollo Global Management in the Private Equity Group and an Investment Bank in the M&A Group at Morgan Stanley.
“I have focused much of my career on disruptive technologies to create better customer experiences. Lemonade’s smooth user experience and its modern business model challenging the status quo is a natural alignment, ”Novoselsky said. “I look forward to working with Daniel, Shai, the board of directors and the management team of Lemonade to contribute to the future success of this growing company.”
Silvija Martincevic is the Commercial Director of Affirm, a payments technology company dedicated to creating honest financial products that improve lives. At Affirm, she is responsible for business strategy, partnerships and marketing. Prior to his current role, from 2011 to 2018, Silvija held various leadership roles at Groupon, including Chief Operating Officer and Chief Marketing Officer of Groupon’s international operations in Europe, Asia and Australia. Silvija also spent a decade in the investment management industry where she founded her own company focused on socially responsible equity investments.
“I strongly believe that companies can have a mission and a product that puts the consumer first while producing strong business results, and Lemonade is a great example of that,” said Martincevic. “I am delighted to join the company’s board of directors and look forward to working with the extended Lemonade team to support the continued growth of the company.”
The two new board members replace Haim Sadger and Tom Hutton, who resigned today after serving on Lemonade’s board since its inception. Haim and Tom both brought Lemonade exceptional insight and experience, and their dedication to the company is greatly appreciated.
“Irina and Silvija each bring a wealth of consumer and financial experience, knowledge and expertise, and we are delighted to welcome them to the Lemonade Board of Directors,” said Daniel Schreiber, CEO and co-founder of Lemonade. “We are also extremely grateful to Haim and Tom for their years of support, wisdom and friendship. The lemonade wouldn’t have gone as far as us if it wasn’t for them.
Along with Irina and Silvia, Lemonade’s current board is made up of Lemonade Co-Founders Daniel Schreiber and Shai Wininger, Joel Cutler (Co-Founder, Managing Director, General Catalyst Partners), Michael Eisenberg (Partner, Aleph), Shu Nyatta (Managing Partner, Softbank Group International) and Caryn Seidman-Becker (Chairman and CEO, CLEAR).
Lemonade offers renters, owners, pets and life insurance. Powered by artificial intelligence and behavioral economics, Lemonade’s full stack insurance companies in the US and EU are replacing brokers and bureaucracy with bots and machine learning, aiming for zero paperwork and at any instant. B-Corp certified, Lemonade donates unused bounties to nonprofits selected by its community during its annual remittance. Lemonade is currently available in the United States, Germany, the Netherlands, and France, and continues to expand globally.
Keep in touch at @lemonade_inc or [email protected]
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release that do not relate to historical facts should be considered as forward-looking statements. These statements are not promises or guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements. expressed or implied by the forecasts. statements, including, but not limited to the following: our history of losses and the fact that we may not achieve or maintain profitability in the future; our ability to retain and expand our customer base; the fact that the “Lemonade” mark may not become as well known as the trademarks of the incumbents or the mark may be tarnished; denial of claims or our inability to pay claims accurately and in a timely manner; our ability to get more value from each user; the novelty of our business model and its unpredictable efficiency and sensitivity to unintended consequences; the possibility that we may be forced to modify or eliminate our feedback, which could undermine our business model; the results of reviews by our principal state insurance regulator that could result in adverse review results and require corrective action or give rise to regulatory orders requiring corrective, injunctive or other action; our limited operating history; our ability to effectively manage our growth; the impact of intense competition in the segments of the insurance industry in which we operate on our ability to achieve or increase profitability; the unavailability of reinsurance at current levels and prices, which could limit our ability to write new business; our ability to renew reinsurance contracts for a term and under conditions comparable to those currently in effect; our exposure to counterparty risks resulting from reinsurance; loss of personal customer information, damage to our reputation and brand, or to our business and operating results due to security incidents or actual errors, failures or bugs or perceived in our systems, website or application; our actual or perceived inability to protect customer information and other data, respect customer privacy, or comply with data privacy and security laws and regulations; our ability to comply with extensive insurance industry regulations and the need to incur additional costs or devote additional resources to comply with changes to existing regulations; our exposure to additional regulatory requirements specific to other markets we enter or have entered, including auto, pet and life insurance, and the need to devote additional resources to comply to these regulations; and our inability to predict the lasting impacts of COVID-19 on our business in particular, and the global economy in general. These and other important factors are discussed under the heading “Risk Factors” in our Annual Report on Form 10-K filed on March 8, 2021 and our other documents filed with the Securities and Exchange Commission could cause the actual results differ materially from those indicated by the forward-looking statements made in this press release. These forward-looking statements represent the beliefs of management as of the date of this press release. While we may choose to update these forward-looking statements at some time in the future, we disclaim any obligation to do so, even if subsequent events change our view.