In this video, I will revisit some of the reasons I am invested in Lemonade (NYSE: LMND). The company recently hired a new chief claims officer who worked for 27 years for a legacy insurance company. I will also go over the projected total addressable market for car and pet insurance because I think these two segments of the business will most likely have big positive impacts on the business in the short and long term. You can find the video below, but here are some of the highlights. The stock is down 53% year to date and down 25% since it reported earnings and the acquisition of Metromile. The company hired a new chief claims officer who worked for 27 years at USAA. According to Ibisworld, the current automobile insurance market in the US is $311 billion and has grown 2.3% for the past five years. If Lemonade manages to get just 1% of it, that would be almost as much as its current market capitalization ($3.2 billion). According to Verified Market Research, the US pet insurance market size was valued at $1.22 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 11.1% to reach $2.85 billion by 2028. The global pet insurance market was valued at $4.25 billion in 2020 and is projected to reach $13.75 billion by 2028, growing at a CAGR of 15.8%. Lemonade is still a very young insurance company but has reached certain milestones faster than any other insurance company in the past, such as by reaching 1 million customers in less than five years and building and launching a car insurance product in just 10 months. The company is not profitable and won't be anytime soon. It is spending heavily on growing its business, but this is something that will need to change eventually. As with every early-stage investment, size your position accordingly because volatility plays a big part early on. For the full insights, do watch the video below, and consider subscribing. *Stock prices used were the closing prices of Nov. 19, 2021. The video was published on Nov. 21, 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 November 10, 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