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  "documentTitle": "Lemonade | Results Presentation Deck | 16 slides",
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  "authorName": "Lemonade",
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  "presentationDate": "2020-08-01 00:00:00",
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  "notes": "The slide highlights the divergence between GAAP reporting and actual business performance due to accounting treatment of reinsurance.",
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  "slideHref": "/slides/019de070-403c-7747-b058-0ff9689f958b/14",
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      "text": "Chart showing Gross Earned Premium, Revenue, Gross Margins, and Adj. Gross Profit over time",
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      "text": "Core operating performance captured by KPIs and non-GAAP metrics, while GAAP results show dramatic swings reflecting changes to reinsurance structure, even when the substance –risk retention, unit economics, etc–is largely unchanged",
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      "text": "Illustrative: Impact of New Reinsurance on GAAP Metrics",
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      "evidence": "The deck uses a before-after analysis to show the impact of the new reinsurance program on GAAP metrics.",
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      "objective": "Illustrate the impact of the new reinsurance program",
      "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta",
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