Is Lemonade or Tesla the biggest insurance disruptor?

Is Elon Musk and Tesla causing the most industry disruption today? Or is the startup Lemonade the company that will lead insurance transformation? (Photo: Shutterstock)

I’ve never been a big fan of the term disruption. I believe that in the InsurTech world, a majority of the startups are partnering with incumbents to enable industry transformation. They are catalysts for change, to be sure. But few are truly turning the industry on its head.

For instance, Lemonade is a startup that, since its inception, has positioned itself as a disruptor. The slogan is still “Forget Everything You Know About Insurance.” The constant marketing drumbeat from the company has emphasized its different approach and has especially focused on appealing to millennials. And with the recent spectacular IPO, Lemonade has the attention of the insurance world. I believe Lemonade has been very good for the industry (and it has certainly been good for the founders).