Could An Incumbent Act Like Lemonade?
Monday, October 3rd, 2016 Risk Management TechnologyLemonade, the industry disruptor touted as a game-changer for the insurance industry, has officially opened, with homeowners and renters products launched in New York. Lemonade’s opening is significant for a number of reasons. First, Lemonade’s business model will donate unused premiums to a charity. This sounds like a great idea — and it deserves to work — but time will tell if it’s enough to deter fraud. Second is the Lemonade app. The Lemonade app seems to be a killer in terms of capability, usability and its use of bots. Get insured in 90 seconds? Tick. Submit a claim and get paid in three minutes? Tick.
External References & Further Reading
http://insurancethoughtleadership.com/could-an-incumbent-act-like-lemonade/
