What Does the Success of Lemonade and Other Insurtech Companies Mean For the Future of Insurance?
August 12, 2020 by Rashik Adhikari
In a world where COVID-19 cases are rising by the day, having the right and adequate personal insurance is more critical than ever. Because of COVID-19, the risks around us are heightened but our risk tolerance is low. We all are thinking about ways to better protect what we love, including what insurance to buy. As the world around us changes with social distancing in effect, so does the way we buy and manage personal insurance.
The process of buying insurance is transforming and insurance brokerages need to evolve to meet today’s consumers where they are: at the intersection of ease and transparency. Companies like Lemonade have figured out how to harness the power of tech to reshape the way consumers experience and purchase insurance so that the process is simple, intuitive and empowering.
