In this video I will go over Lemonade's (NYSE: LMND) Q2 earnings report and talk about why this was actually a promising report, seeing as it raised guidance again for the full year. You can find the video below. Earnings highlights In force premium (IFP) growth accelerated to 91% year over year with IFP of $297 million and about 1.2 million customers, up 48% YOY. Premium per customer increased 29% YOY to $246. Gross earned premium increased 90% YOY to $67 million. Car and life Lemonade has no concrete launch date for car insurance, nor is it including anticipated IFP for Lemonade Car in the company's guidance for FY 21. As for term life, we now know it makes up around 1% of the overall business mix. Life insurance has been a bit slower out of the gate than pet insurance, but the signals are strong, and Lemonade will continue to allocate marketing dollars to the product. Reinsurance As the company noted in its release, "A year ago, we transitioned to a quota share reinsurance program. We agreed to cede 75% of our premium to a panel of partners, thus retaining 25% of the risk on our own balance sheet." The company also said, "despite meaningful noise and volatility in the reinsurance market, which has anecdotally been a point of concern for some of our shareholders ... [the company] made a modest reduction in the scope of our quota share program -- stepping down from 75% to 70%." This will have a positive effect in future quarters. For the full insights, watch the video below. *Stock prices used were the closing prices of August 4, 2021. The video was published on August 5, 2021. 10 stocks we like better than Lemonade, Inc.When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Lemonade, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 7, 2021 Neil Rozenbaum owns shares of Lemonade, Inc. The Motley Fool owns shares of and recommends Lemonade, Inc. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool. Source