A lot of commenters are speculating as to AI analyzing the risk, which, as they also point out, isn't necessarily a new idea. However, if I interpret the article correctly:
>Indeed it has so been achieved. It is available 24/7, courtesy of a delightful bot who will fashion you a $5 policy in 90 seconds and with zero paperwork.
Between this and the comments about acquisition costs, it seems like they're saving a lot compared to traditional (legacy) insurance companies by cutting out customer service reps and agents.
>Indeed it has so been achieved. It is available 24/7, courtesy of a delightful bot who will fashion you a $5 policy in 90 seconds and with zero paperwork.
Between this and the comments about acquisition costs, it seems like they're saving a lot compared to traditional (legacy) insurance companies by cutting out customer service reps and agents.