Ways InsurTech can save the industry from itself

[Insurance Forums Staff]

Insurance Forums Staff submitted a new article

Ways InsurTech can save the industry from itself

Americans have experienced an unprecedented leap in digital adoption over the past year and it is unlikely business will ever go back to "normal." Insurance companies need to take notice and adopt new technologies as well or risk failure, says Paul Ford, CEO of Traffk.

Continue reading the Original Article.

 

[marindependent]

"Consumers appreciate it and are taking notice. As an example, Lemonade Insurance, in just 4 years, signed up 4 million active customers—an accomplishment that took some legacy insurance companies decades to accomplish." Wow Four Million Americans have signed up with an insurance carrier that has an "NR" Financial Strength Rating.

Technically I think consumers did not take notice, of some of the important details. True - getting digital access to your insurance policies is important, but how important?

 

[TechyCPCU]

Lemonade has never come close to posting a profit...

 

[Tahoe Ray]

Lemonade has never come close to posting a profit...

Hahaha...like profit matters today /s

 

[JoshE]

It doesn't matter until it does.... In other words, as long as lemonade is growing losses are acceptable once they plateau that's when it gets interesting (get some Popcorn!!).