Deals

Lemonade Uses Tech to Streamline Insurance Policies

MakeUseOf Deals 22-10-2019

Most of us don’t want to think about insurance; especially when it comes to homeowners’ or renters’ insurance. We’d just like to pay it and be done with it, trusting that if something goes wrong, we’ll be covered. However, that’s not always the case, and even with good insurance, it can be like pulling teeth to get reimbursed after a life-changing accident.

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The insurance industry is filled with pain points, a great irony considering it’s supposed to be a lifeline. But thanks to modern innovation, Lemonade has developed a tech-driven platform to revolutionize and revitalize the industry. Their platform eliminates the stressful claims process and irritating back-and-forth with insurance companies by putting the power in your hands. Using an innovative AI named Maya, Lemonade helps you craft your ideal insurance plan for your needs in as little as 90 seconds, and resolves claims in as little as three minutes. When a window breaks, you can submit, process, and get reimbursed fast rather than spending needless hours on the phone or filling out paperwork.

Lemonade works by taking a flat fee and treating the premium you pay as your money. Then, when you get paid for specific claims, a portion of the unclaimed funds are sent to charities on your behalf, so you’re doing good even while you’re benefiting.

The full Lemonade experience is based on either the iOS or Android app and you can get renters’ insurance starting at just $5/month or homeowners’ insurance starting at just $25/month. The world is progressing, shouldn’t your insurance, too?

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