How artificial intelligence could help make the insurance industry trustworthy

NYC-based Lemonade hopes to reverse the poor reputation of insurance companies by using tech and behavioral science to appeal to younger customers

With its complex rules, fine print and lengthy processes, it's little wonder that the $1.2tn insurance industry has a poor reputation for trust and customer service. In a recent global survey from accounting firm EY, consumers ranked insurance below banks, car manufacturers, online shopping sites and supermarkets for trustworthiness.

A newcomer to the field, New York City-based Lemonade hopes to reverse that reputation by using technology and behavioral science to create a faster and more transparent service.