- 656
According to a new article on Bankrate (link below), a new startup called "Lemonade" is looking to shake up the traditional homeowners insurance market with a “sharing ecomony alternative.”
From the article:
New York-based cofounders Daniel Schreiber and Shai Wininger vow to reinvent insurance "in ways not available to the legacy insurance carriers," with the goal of making insurance a "delightful" experience for consumers. The name reflects the pair's goal of turning shopping for insurance, which consumers consider a lemon, into, well, lemonade. So far, they've raised $13 million in initial funding.
Schreiber says Lemonade has recruited seasoned insurance actuaries and professionals, including a few big names in the industry, to flesh out how P2P property and casualty insurance would work. But unlike Uber and other car-sharing rebels, the Lemonade makers are already working with New York regulators and plan to launch as a fully approved and licensed insurance carrier, not a broker.
"Most Americans view insurance as a necessary evil rather than a social good, and that's something we'd like to change," Schreiber said in Lemonade's money-raising pitch. "We're challenging the way insurance companies work, with a peer-to-peer business model fueled by self-serve technology."
They’ve got some serious backing, and hope to launch within a few months. Any predictions on how they’ll fare?
Will ‘Lemonade’ be the Uber of insurance? - Bankrate.com
From the article:
New York-based cofounders Daniel Schreiber and Shai Wininger vow to reinvent insurance "in ways not available to the legacy insurance carriers," with the goal of making insurance a "delightful" experience for consumers. The name reflects the pair's goal of turning shopping for insurance, which consumers consider a lemon, into, well, lemonade. So far, they've raised $13 million in initial funding.
Schreiber says Lemonade has recruited seasoned insurance actuaries and professionals, including a few big names in the industry, to flesh out how P2P property and casualty insurance would work. But unlike Uber and other car-sharing rebels, the Lemonade makers are already working with New York regulators and plan to launch as a fully approved and licensed insurance carrier, not a broker.
"Most Americans view insurance as a necessary evil rather than a social good, and that's something we'd like to change," Schreiber said in Lemonade's money-raising pitch. "We're challenging the way insurance companies work, with a peer-to-peer business model fueled by self-serve technology."
They’ve got some serious backing, and hope to launch within a few months. Any predictions on how they’ll fare?
Will ‘Lemonade’ be the Uber of insurance? - Bankrate.com