US - Entrepreneurs Raise $13 Million to reinvent insurance
Thursday, 12 10 2015, Category: Insurance and Reinsurance, Country: United States
The U.S. property/casualty insurance industry is about to be tested directly by the sharing economy.
Two tech entrepreneurs have raised $13 million in initial funding to launch a peer-to-peer online property/casualty insurance company named Lemonade, which they promise will reinvent the insurance industry business model and make insurance a “delightful” experience for consumers.
The founders claim that with their peer-to-peer (P2P) technology, they will alter the current industry’s bureaucracy and structure “in ways not available to the legacy insurance carriers.”
Source: Insurance Journal