#AI Changing the Game for #Insurance 

#fintech #Insurtech
  • US insurance company Lemonade are continuing their rise to the top using Artificial Intelligence, after revealing their research which shows they are gaining a large share of the New York market.
  • Their Google Surveys revealed that in less than a year, Lemonade has captured almost 5% of the market share in renters insurance.
  • Their ascent is even more incredible when considering that the average market share for the top 10 homeowners insurance is 6.3%, while being in business for 104 years.
  • Furthermore, Lemonade has truly captured the attention of new entrances into the market, where they boast 27% of the market share.
  • The vast majority of the ‘market’ bought their policy before Lemonade existed, so the more telling number is the share amongst consumers who entered the market since Lemonade did.

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