$LMND

Over the past couple of days, the market has been filled with collective anxiety about the disruptive impact AI may have on existing business models and personal productivity. $LMND is no exception—down nearly 50% from a month ago🩸. Ouch. There’s no doubt that the transformation driven by AI presents unprecedented opportunities and challenges for both individuals and companies. The key to success lies in embracing AI’s evolution, embracing uncertainty, and staying agile and flexible enough to adapt to a new world. During the $LMND Q4 2025 earnings Q&A, I asked the following question: “AI compress traditional insurance risk while redefining what’s insurable — does this imply a shrinking TAM? How does Lemonade think about AI reducing uncertainty while creating new risk categories, and wh