Lemonade

It caused a stir recently by spotlighting how its AI monitors video claims for non-verbal clues of fraud. In fact, it simply uses facial recognition to flag when it thinks multiple claims are being made by the same customer. Causes-for-concern are flagged by the bot, and subsequently reviewed by human agents. This is a far cry from concerns about flawed AI character assessments.

Skepticism nevertheless remains about the deployment of black-box algorithms to assess insurance claims. It’s important to remember, however, that whilst Lemonade may be one of its most strident advocates and insistent innovators, the use of AI in insurance is widespread, and developing fast. It’s to Lemonade’s credit that the company is committed to developing and refining its use. Certainly, AI will define the future of insurance assessments - and Lemonade stands to profit highly if it can perfect the practice.