Going Digital

Major corporations around the world are increasingly waking up to the fact that startups are becoming the key source of innovation for them.

Every insurance sector player ought to ask: How should the value chain be reshaped by using the new technologies at hand?

For the record, automating a broken or deficient process in customer service does not constitute an improvement.

Commercial insurance is simply too complicated, and the broker adds too much value to be easily replaced.

As I leave decades with incumbents and embark on a new chapter at Lemonade, I see a chance to help make insurance relevant again.

Should incumbents potentially invest in startups? Yes. Give away customer information? Not so much.

"If you tried to create a system to bring out the worst in people, you would end up with one that looks a lot like the current insurance industry.”

Insurers engage with the startup community to do things they could do for themselves. Why? "Dominant design" has an answer.