Canadian insurers wanting to handle claims like Lemonade are going to have to accept some trade-offs, a Claims Summit speaker said Tuesday. New York City-based Lemonade Insurance Company uses artificial intelligence and says it can handle some claims in three seconds. Lemonade claimed earlier that it set a world record when a customer who submitted a claim electronically — for a $979 parka — had the claim closed within three seconds. Within that three seconds, Lemonade says, Lemonade’s claims bot “reviewed the claim, cross referenced it with the policy, ran 18 anti-fraud algorithms on it, approved the claim, sent wiring instructions to the bank” and informed the customer that the claim was closed.