How Car Insurance Could Drive Lemonade Stock Higher
Dealing with insurance companies can be unpleasant. Buying a policy is fairly simple thanks to the internet, but lodging a claim still requires human interaction most of the time, which is one part of a lengthy process you have to undergo before receiving your payout.
Insurance technology company Lemonade (NYSE: LMND) is using artificial intelligence (AI) to improve the customer experience and it has attracted more than 1.4 million customers, most of whom have migrated from its much larger competitors.
The company operated in four main insurance segments before introducing car insurance in 2021. Here's why that addition could be a game changer for the company.
Source Fool.com
