When life gives you lemons, make lemonade. That’s the idea behind the aptly named Lemonade, a next-generation insurance startup. The company, which opened for business in New York in September 2016, aims to turn the sour insurance purchase and claims process into a “delightful” experience for consumers through smart technology and design.
It’s too early to tell if the company’s ambitions will become reality, but one thing is certain: competitors to traditional insurance, like Lemonade, are thriving because the industry desperately needs to reinvent the consumer experience with technology. For instance, Lemonade is partly revolutionary because it allows users to buy renters coverage instantly from any mobile device, functionality shockingly absent from the insurance process in 2016.