ILC ARTICLE

Claim Technology sets two-second claim record

25th July 2023

Digital insurance company Lemonade has set a new record in insurance claims after settling and paying out inside two seconds.

This was achieved on Claim Technology’s platform, which uses artificial intelligence and behavioural economics to assess the claim, check policy conditions, perform anti-fraud checks, and approve the claim.

It is available to any insurer as a plug-and-play solution, enabling them to instantly resolve customer claims with zero-touch.

Simon Crowe, Head of Growth at Claim Technology, said, “Our platform is designed to accelerate digital transformation in the insurance industry. Our insurtech APIs and no-code design tools are easy to use and can quickly be implemented on a standalone basis or to scale digital solutions on top of existing systems.