The chatbots that the company uses to handle claims and sell insurance policies are artificial intelligence. Policyholder claims are handled by the app “A.I. Jim.” While you are filing a claim, the app reviews and processes it, compares it to the policy, and either approves or denies it. In most cases, policies can be purchased and claims paid within a few minutes. The insurance rating organization Demotech has given Lemonade an “A” for financial strength.1 Some basic policy options are as follows:

Replacement value of personal property: $10K-$250K Deductibles: $250-$2,500 Medical payments: $1K-$5K Personal liability: $100K-$500K Loss of use: $4.5K-$200K

Electronics, fine art jewelry, cameras, musical instruments, and bicycles