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How the Rising Price of Lumber Could Impact Homeowners Insurance
Jordan Paszek June 30, 2021 Posted in: Blog Posts, Homeowners
The pandemic has created some extraordinary market conditions throughout the U.S. economy. As people have spent more time at home, the demand for single-family homes and the number of home renovation projects have increased. But what happens when costs of parts and labor for repair become inflated? For submitted home insurance claims, insurance costs will likely be significantly more in 2021 than a similar claim last year.
Lemonade at the Close of 2018
James Wencil May 09, 2019 Posted in: Blog Posts, Homeowners, Insurance / Insurers
Lemonade Insurance Company is making noise in the homeowners and renters insurance markets as a pioneer in the Insurtech space. Lemonade opened its doors in 2016, supercharged with venture capital horsepower, strategic partnerships with global reinsurance giants, and an idea. Management aimed to take a fresh perspective on homeowners insurance by leveraging high-tech and behavioral economics. Not only is the front end of the insurance process automated, but so is the claims handling process. Utilizing artificial intelligence (AI) and blockchain-backed anti-fraud algorithms, Lemonade is able to pay out 25% of claims in three seconds of receiving first notice of claim. The remaining claims are handled by Lemonade’s claim department staffed by human beings. 
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