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This is wildly un-new. Mutual insurance companies have existed for literally hundreds of years. Oldest one I can find in 5 minutes dates to 1762, and if you include merchant insurance organizations, probably https://en.wikipedia.org/wiki/Mutual_insurance https://en.wikipedia.org/wiki/The_Equitable_Life_Assurance_S...
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The difference is that we're a fully regulated insurance company (as opposed to brokers like Guevara or other p2p insurance startups). It means that we can control the experience end to end and build an insurance company with a different business model than how traditional insurance companies do business. This is why we can give unclaimed money back to charity.
Why not give unclaimed money back to the consumer? Like a mutual insurance company, wouldnt that dissaude more folks from filing fraudulent* claims?
It looks like these are the companies that are really insuring you: Lloyd’s of London, Berkshire Hathaway’s National Indemnity, XL Catlin etc. Basically they are buying a policy from one of those companies adding 20% and selling it to you. A insurance company works by spreading risk over a large area. By selling everything in NY they are increasing their correlation which raises risk. One of the reasons for the sub p…
There's a difference between insurance and reinsurance. It looks like they're only reinsured through those companies, but the policy itself is underwritten by Lemonade. Reinsurance is basically insurance for the insurance co, for instance if a hurricane hits NYC and wipes out all of their policyholders at once. (It's a bit complicated because there actually are many insurance co's that only sell insurance underwritte…
If you're rental focused, stuff like hurricanes aren't as big a deal because most perils are excluded or out of scope. The roof is your landlord's problem.
This is wildly un-new. Mutual insurance companies have existed for literally hundreds of years. Oldest one I can find in 5 minutes dates to 1762, and if you include merchant insurance organizations, probably https://en.wikipedia.org/wiki/Mutual_insurance https://en.wikipedia.org/wiki/The_Equitable_Life_Assurance_S...
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Probably 20% (edit, now that I think of it, maybe up to 50%) of "hot new startups" I see posted to the front page of HN on a weekly basis are an existing business model with a slick web 2.0 front end, CSS/HTML5, etc, a marketing department run by generation Y and some mobile app developers.
Just because a business is using a proven model, doesn't mean it can't be a "hot new startup". Good for those businesses with sound fundamentals made accessible through new technology.
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That comment wasn't about a bug. This person is saying that you require too much information to get a quote. And I agree.
The fact that @gilsadis didn't understand this this suggests to me that they are in entirely the wrong business.
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I will answer you as nobody else will. Hacker News users are interested in this idea, but don't want to divulge their actual address to get a "price quote". Ideally, they'd like to give their zip code and get a round-about dollar figure they can use to compare to their current pricing.
Fair enough. The reason we ask for your name first is because we want to create a more personal chat experience. We believe that buying insurance should not only be instant but also delightful.
It looks like these are the companies that are really insuring you: Lloyd’s of London, Berkshire Hathaway’s National Indemnity, XL Catlin etc. Basically they are buying a policy from one of those companies adding 20% and selling it to you. A insurance company works by spreading risk over a large area. By selling everything in NY they are increasing their correlation which raises risk. One of the reasons for the sub p…
I got to "enter your name" and leaked out of the funnel. I'm willing to give up my zip code to find out how you compare to my current provider. Give me some good rates to entice me out of the rest of my data.
Hey, thanks for trying. Can you share more details? Browser, device, etc. It seems like everything works properly on our end
As others related, this isn't a bug report. This is about the design of your conversion funnel and the appropriateness of what levels of information I will consent to offering while your site is attempting to build a relationship with me.
When you don't know me, you can have my zip code. Show me some awesome rates based on my zip code, and maybe then I'll give you my name or email address. I don't want to leave mouse droppings of personal information all over the internet unless I am intent on engaging with your company. Got it?
And here's the truth. I am in the process of examining and amending my insurance coverage because we are deleting a car. So you lost a qualified hot lead. So hand that data to your hippo.