New York insurance company, Lemonade, is offering a different kind of insurance. One that replaces brokers and bureaucracy with an artificial intelligence bot called Maya.

The startup charges a small flat fee and the rest goes to covering your stuff. That means it doesn’t stand to gain from rejecting claims and – if there’s any cash left over that hasn’t been paid out in claims – it donates it to charity.

What’s more, Lemonade can settle a request in about three minutes by combining conversational UI, anti-fraud detection and machine learning.

Via: Contagious


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