The IMD Annual Report 2019

Use neuroscience and small, measurable actions to build a resilient leadership brain – adaptive, balanced, and primed for peak boardroom performance.

Identify your superpowers to strengthen your personal brand and executive presence, and learn how unique skills help you overcome imposter syndrome.

Staying committed on net-zero goals is crucial as companies navigate pressure from the Trump administration and difficult economic conditions.

The business case for AI is realized when the application is scaled. Use this checklist to ensure the transition from a successful use case to a transformative project.

Vinted founder Milda Mitkute shares how she turned a wardrobe cleanout into Lithuania’s first tech unicorn and why responsible growth matters.

As organizations become increasingly complex, fast paced, and interconnected, one of the key skills that will set leaders apart will be how they show up and communicate.

The case examines how a New York-based 10-year-old start-up, Lemonade Inc., successfully disrupted the insurance industry. Powered by artificial intelligence, Lemonade's mobile app replaced brokers and bureaucracy with bots and machine learning. The combination of simple product, no jargon, zero paperwork and an all-digital engagement allowed Lemonade to collapse costs, not at the expense of customer experience but to delight young customers with "instant everything" – from buying insurance in 90 seconds to getting claims paid in 3 seconds. Lemonade's notable milestones include surpassing $1 billion in in-force premiums in March 2025, a net loss ratio improvement from 97% in 2022 to 75% in 2025, and its first full year of positive adjusted free cash flow in 2024. Despite strong top-line growth, the company was yet to turn a profit, and its stock performance had been rocky. Lemonade posted a $202.2 million net loss in 2024, and its market capitalization stood at $4.2 billion in August 2025, significantly below its $9.8 billion peak in January 2021. Looking ahead, Lemonade aimed to increase in-force premiums tenfold, to $10 billion, by aggressively acquiring customers without significantly raising costs. As the stock regained market attention, bullish analysts highlighted ongoing progress toward profitability and improving loss ratios, whereas bearish analysts questioned the fundamentals behind the highly positive narrative presented by CEO Daniel Schreiber. A key question was whether the company could sustain its data- and AI-enabled competitive advantage or whether incumbents with deep pockets and growing technological investments would catch up. Against a backdrop of geopolitical tensions, uncertain macroeconomic conditions and increased competition, should institutional investors continue to invest in Lemonade or not?

Leadership is no longer just about directing tasks or achieving short-term goals. It is about navigating complexity, fostering growth, and addressing the human dimension of work in an era of constant change. Today’s leaders are expected to balance...

IMD’s AI Maturity Index shows how leading global companies advance their AI capabilities, revealing what it takes to move from pilot to implementation at scale.

Discover the 2025 Future Readiness Indicator revealing how tech, pharma, and fashion companies thrive amid AI disruption and geopolitical shocks.