When you make an insurance claim with Lemonade, the online-only startup that mainly sells renters policies to young American urbanites, you quickly fill in details on its slick mobile app and then record a quick video to explain the claim again. Smart software analyzes this video for telltale signs of dishonesty, one of 18 antifraud algorithms that Lemonade says helps it pay claims fast. About one-third are paid instantly, according to Daniel Schreiber, co-founder and CEO, while the average claim is settled in less than a...

Source: Wall Street Journal May 14, 2018 10:42 UTC