The insurance industry as it currently exists is, by all accounts, terrible.
It’s existing business model is broken at the start, with a misalignment of incentives between the insurers (who want to keep your money so they make money) and you — who’re kind of hoping that they’ll actually pay you when you need them to.
Well, the still-stealthy Lemonade continues to build out an impressive team giving some hope that its new model for insurance (the company’s tagline is “Insurance that doesn’t suck.”) will live up to its promises.
Its most recent hire is Dan Ariely, the famous behavioral scientist, who will serve as the company’s Chief Behavioral Officer. Ariely is tasked, in part, with helping design systems and processes that ensure that the interests of the…