Digital insurance start - up Lemonade says it will revolutionise the insurance industry but there are few ways yet that it will , says Jay Feinman , professor of law and co - director of the national Center for innovation and Responsibility at Rutgers Law School . It is yet to show how it will generate a large claim and has n't said whether it would renew policies of consumers without increasing premiums , says Feinman . If New York - based Lemonade wants to change the industry it needs provide more information to allow clients to choose the best insurance choices , prove it will treat customers reasonably and process them promptly and fairly , he concludes .
Digital insurance start-up Lemonade says it will revolutionise the insurance industry but there are few signs yet that it will, says Jay Feinman, professor of law and co-director of the Rutgers Center for Risk and Responsibility at Rutgers Law School. It is yet to show how it will handle a large claim and hasn't said whether it would renew policies of claimants without increasing premiums, says Feinman. If New York-based Lemonade wants to change the industry it needs provide more information to allow clients to make the best insurance choices, prove it will treat customers reasonably and process claims promptly and fairly, he concludes.