This AI-Powered Fintech Is Making Strides: Is It Time to Buy?
Lemonade (NYSE: LMND) was the talk of the town when it went public a couple of years ago. The AI-powered insurance fintech got off to a blistering start in its efforts to grab market share, and its stock price exploded after it went public in July 2020, gaining 551% a few months later.
The company has added multiple insurance products to expand its reach and has made huge strides. However, there is one aspect of the company that needs significant work. But once management addresses this issue, Lemonade will shoot to the top of my list of stocks to buy.
Lemonade is on a mission to reimagine the insurance business. It leverages artificial intelligence (AI) to help people buy renters, homeowners, pet, and car insurance with just a few questions through its website or app. The company also leverages AI to address insurance claims quickly, and aims to appeal to younger customers.
Source Fool.com
