Lemonade’s pet insurance business in Oregon grew rapidly between 2022 and 2023, according to regulatory filings that show both policy count and premium increasing sharply.
A filing submitted in April 2022 showed Lemonade had 2,185 affected policyholders and $133,247 in written premium in Oregon. The insurer sought a 23.13% overall rate increase and projected an additional $308,196 in premium.
By June 2023, Lemonade’s Oregon pet book had expanded to 6,253 policyholders and $3.04 million in written premium. The later filing sought a 12% overall rate increase and projected an additional $314,005 in premium.
The figures suggest that Lemonade nearly tripled its policy count in Oregon over roughly 14 months, adding more than 4,000 policies. Written premium increased by almost $2.9 million during the period, highlighting the company’s rapid expansion in what was still a relatively small market for pet insurance.
The growth also illustrates how quickly Lemonade’s pet business was scaling outside of its largest states, even as the insurer continued to pursue rate increases to address claims trends and improve pricing adequacy.
