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25 February 2018

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Lemonade CEO slaps insurers on gains by denying claims

Bernard Goyder 13 February 2018

The co-founder and CEO of Lemonade has lambasted the insurance industry on its claims performance, accusing carriers of making money by not paying claims.

In an interview with Business Insider published yesterday, Daniel Schreiber said: "insurance companies make money by disappointing their customers."

He continued: "the way insurance providers make money is by denying your claim."

The comments follow Lemonade's latest funding round that raised $120mn, led by SoftBank, and put the New York-based company at the forefront of property...

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