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July 11, 2017 02:36 pm GMT
Lemonade has raised $60 million to date with the thesis that insurance companies can cut costs and automate more of their processes if they can somehow incentivize users to act less selfishly and commit less fraud. Traditionally insurance companies take the spread between premiums and claims as profit, but Lemonade aims to donate unclaimed premiums to charity once a year in a… Read More
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/eiQYn59IsCA/
The Lemonade insurance social experiment results in $53K donation in year one
Lemonade has raised $60 million to date with the thesis that insurance companies can cut costs and automate more of their processes if they can somehow incentivize users to act less selfishly and commit less fraud. Traditionally insurance companies take the spread between premiums and claims as profit, but Lemonade aims to donate unclaimed premiums to charity once a year in a… Read MoreOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/eiQYn59IsCA/
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