Lemonade, the industry disruptor touted as a game-changer for the insurance industry, has officially opened, with homeowners and renters products launched in New York. Lemonades opening is significant for a number of reasons. First, Lemonades 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 its 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.
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