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Hi All! This week we are following Just Insure, Insurance Talent Challenges and Lemonade Car. Only two weeks until ITC 2021, we are busy planning our agendas and hope to connect with you if you are going. Here are the three things we learned: |
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Another Pay-Per-Mile Insurer Just Insure, a pay-per mile startup, announced an $8M raise to bring the total amount raised so far to $15.3M. While not splashy, it is interesting to see them evolve as a growing concern. They are smaller and less mature but apparently are focusing on loss ratio among other things to ensure a healthy book of business. Their social messaging and tech presence may also help them emerge to challenge Root, Metromile and others. |
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The Insurance Talent Squeeze Talent in the insurance industry has been an area of growing challenge. Executives discussed topics including, remote work and return to the office, retiring baby-boomers and how the industry will adapt to try to attract college graduates. As the industry moves toward the future it will be important to figure out these challenges and hire the next generation of insurance talent. |
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Lemonade Car Details Emerge For the second week in a row Lemonade’s product innovation makes our list. We have been following the launch of Lemonade Car. It appears they have taken their time to get it right. The product is filed in several states and will leverage app-based telematics. Instead of building their own, they will leverage leading telematics providers. The product has other unique features like ‘try before you buy’. It is becoming a crowded space but brand differentiation and segmentation can allow them to gain share. |
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