MetroMile is a 6 year veteran of the industry that introduced a new pay-per-mile alternative to traditional auto insurance. Since then, new companies have started to re-think business models while also incorporating new technology to provide seamless experiences that make interacting with insurance an enjoyable experience. Two recent standouts are Lemonade for renters/homeowners insurance and FIGO for pet insurance.Lemonade is a mobile-based insurance provider that leverages behavioral science and artificial intelligence, eliciting a “I love Lemonade” feeling among its customers. According to CEO and founder Daniel Schreiber, three elements come together to influence this brand affinity:
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