Insurance is one of the largest markets in the world, generating over $5 trillion in annual revenue and it’s being disrupted by Lemonade today. Month after month, having to pay for insurance leaves a bitter taste in the mouths of most people. Lemonade is trying to transform that lemon into something sweet by simplifying the process. The company is building an insurance experience that is easy, affordable, and hassle-free by injecting technology and accountability into an industry that often lacks both. Without further delay, let’s take a look at the most talked about disruptor in 2020.
Lemonade is an Insur-Tech company, focused on disrupting the insurance industry by injecting technology and AI. The company uses AI and big data to run its work processes such as allowing customers to purchase insurance or making claims. On the backend, the company uses AI to manage workflows and predict possible frauds. On the frontend, they utilize AI chatbots to interact with customers,