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More interesting chatter in the "insuretech" space. Some of the industry's biggest players - Berkshire Hathaway’s National Indemnity, Everest Re, Hiscox, Munich Re, Transatlantic and XL Catlin - have all agreed to reinsure the p2p insurance start-up Lemonade. This differentiates Lemonade from it's European counterparts in the p2p insurance space. Where they tend to be managed by brokers, Lemonade is offering the security and backing of a carrier and now reinsurer as well.
"We’re proud to support Lemonade’s creation of a fast, simple, and consumer driven insurance platform,” said Mike McGavick, chief executive officer (CEO) of XL Catlin. “Consumer trust in the insurance system is at the heart of the insurance business, and is essential to the success of any new venture. With this collection of leading reinsurers, Lemonade’s customers will know this innovative venture is backed by some of the best and most established in the industry.”
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