Claims - June 2017

NATIONAL REPORT

may also attract fans in California with its charitable underwriting model, in which underwriting profits are donated to the charities that customers choose.

Key milestone for Lemonade

“Most Americans view insurance as a
necessary evil, rather than a social good,”
Lemonade President and Cofounder Shai
Wininger said in a press release. “That’s
something Lemonade is determined to
change… Expanding to California is a
key milestone on Lemonade’s journey.
The tech capital of the world deserves in-
surance powered by AI, and the people of
California deserve to see insurance under-
writing profits funding their nonprofits.”
Lemonade’s news also highlighted the
company’s new celebrity backer: Actor
and entrepreneur Ashton Kutcher.

“The amazing tech and social impact
of Lemonade was the reason we joined
the company as investors,” Kutcher,
co-founder of Sound Ventures, said in a
prepared statement. “I think Californians
will find Lemonade’s unique combination
of value, values and simplicity hard to re-
sist. I know I did.”

Surplus lines broker enters
market

Californians also gained access to another InsurTech product. The California Department of Insurance released a statement welcoming Slice Insurance Technologies as a surplus lines broker. Slice sells on-demand, short-term insurance for Airbnb and other homeshare hosts who find their homeowners’ insurance lacks full coverage for such rental arrangements.

Homeowners who offer short-term
rental facilities are advised to careful-
ly read their homeowners’ policies and
investigate the extent of their coverage
when it comes to possible damage caused
by a short-term renter or on-site injury
sustained by a short-term renter.

“This start-up is offering an innovative
product to the California market, giving
consumers the opportunity to purchase
a product designed to meet their unique
coverage need,” said Insurance Com-
missioner Dave Jones. “We continue to
encourage insurers to develop new prod-
ucts that fulfil the demands of a technol-
ogy-driven economy. The department
welcomes Slice to the California market
and looks forward to more start-ups and
traditional companies filing products in
the future.”
Slice policies are usage-based, and
are specifically designed for homeshare
hosts.

-William “Bubba” Ryan, CEO

We Do It Differently.

That Will Never Change.
“
”

We do it better- and our Insurance
Industry Partners love us for
the money we save them and
the service we provide to their satisfied customers.