- US insurance company Lemonade are continuing their rise to the top using Artificial Intelligence, after revealing their research which shows they are gaining a large share of the New York market.
- Their Google Surveys revealed that in less than a year, Lemonade has captured almost 5% of the market share in renters insurance.
- Their ascent is even more incredible when considering that the average market share for the top 10 homeowners insurance is 6.3%, while being in business for 104 years.
- Furthermore, Lemonade has truly captured the attention of new entrances into the market, where they boast 27% of the market share.
- The vast majority of the ‘market’ bought their policy before Lemonade existed, so the more telling number is the share amongst consumers who entered the market since Lemonade did.
Insurance company Lemonade are turning the financial services industry head with their AI processes.
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