Shares of insurance technology company Lemonade (NYSE: LMND) fell 13% in March according to data provided by S&P Global Market Intelligence. Investors are still unenthused about the company's progress toward profitability. 

Lemonade is one of several stocks that took the market by storm at the height of the bull market. It uses artificial intelligence to power its insurance products, which it says results in better and cheaper services. It quickly reached the million-customer mark and has been demonstrating robust growth in revenue and policies. 

However, it hasn't been as successful in reining in costs and achieving a viable loss ratio. To be a competitive insurance business, an insurance company has to be able to price policies to cover potential payouts. Lemonade's high loss ratio means it's paying out too much to be a profitable business. 

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Source Fool.com