Insurtech sums - up Lemonade ’s portrayal of the property and casualty insurance industry as a " gaggle of cheats and liars looking for ways to not pay a claim " is at best " great PR , at worst it ’s fraud " , according to mark Boggs of the Independent Insurance Agents and Brokers of insurance . He also criticised Lemonade for not helping customers understand insurance , and argued it would lead to gaps in protection . " it does n’t exist to change the insurance industry , it exists to get all the venture capital it can " , he said . " Once that sums up , Lemonade ’s memory will be a sour one . "
Insurtech start-up Lemonade’s portrayal of the property and casualty insurance industry as a "gaggle of cheats and liars looking for ways to not pay a claim" is at best "great PR, at worst it’s fraud", according to Christopher Boggs of the Independent Insurance Agents and Brokers of America. He also criticised Lemonade for not helping customers understand insurance, and argued it could lead to gaps in protection. "Lemonade doesn’t exist to change the insurance industry, it exists to get all the venture capital it can", he said. "Once that dries up, Lemonade’s memory will be a sour one."