Renters and homeowners insurance carrier Lemonade burst onto the scene last September with plans to “Uberize” the insurance industry – that is, to leverage the breadth of digital technologies, including big data, smartphones, and machine learning, to cater to consumers’ need for instantaneous service online. To support its business, the company built a network of artificial intelligence bots, named after real-life employees, which manage the claims, enrollment and customer service experience via its mobile app.
Lemonade CEO and co-founder Daniel Schreiber sat down recently with Digital Insurance’s associate editor Danni Santana to discuss how its machines are learning, the company’s its business model, and how lemonade plans to maintain a culture of digital innovation. What follows is an edited version of their conversation,
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