{"id":2163,"date":"2017-12-21T08:28:28","date_gmt":"2017-12-21T08:28:28","guid":{"rendered":"\/blog\/?p=2163"},"modified":"2022-06-09T11:06:02","modified_gmt":"2022-06-09T11:06:02","slug":"world-flat-insurance-round","status":"publish","type":"post","link":"https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/","title":{"rendered":"The World is Flat. Insurance is Round."},"content":{"rendered":"
\n
\n

It\u2019s a curious thing: most insurance companies stop at the water\u2019s edge.<\/p>\n

Europe\u2019s largest insurance companies operate in dozens of countries, but most don\u2019t offer insurance to consumers in the United States. Same is true for those operating out of Asia Pacific and Africa.<\/p>\n

And it cuts both ways: American consumers buy insurance from American firms, most of whom don’t have any operations to speak of outside of the Land of the Free. It\u2019s odd. The Atlantic and Pacific oceans are vast, but they\u00a0can<\/em>\u00a0be crossed. And bits and bytes can cross them in milliseconds.<\/p>\n

As a tech company doing insurance, there\u2019s no reason a body of water should be an obstacle to reaching new markets and expanding beyond the 50 states. In fact, within the US, we\u2019re finding that being digital has allowed us to cross the country<\/a> without enlarging our physical footprint.<\/p>\n\t

\r\n\t\t
\r\n\t\t\t

<\/i>Consider this: California is our largest market at the moment, but our nearest employee to the Golden State is 3,000 miles away in the Empire State.<\/a><\/i><\/p>\r\n\t\t<\/div>\r\n\t\t

<\/i>Tweet this!<\/span><\/a><\/div>\r\n\t<\/div>\r\n \n

Our announcement<\/a> yesterday, of a $120 million Series C funding round led by SoftBank, sets the stage for our global expansion.<\/p>\n

See, in order to bring AI-powered insurance to Mumbai, London, Rio de Janeiro, or Sydney, there\u2019s no need to invest in thousands of people in towering skyscrapers. Like Airbnb or Spotify, our services require little more than a mobile phone and a credit card.\u00a0In our largest markets, we have zero employees, and fewer skyscrapers.\u00a0You get the point.<\/p>\n

Sure, we\u2019ll need to invest time with regulatory bodies and learn to adapt to local culture, customs,\u00a0and languages. But our mission is a global one, and our means to go global lie in our being a digital pure-play.<\/p>\n

When Tom Friedman wrote about the waves of globalization and the \u2018flattening\u2019 benefits of it in the 21st century, he declared that the world went from being small to tiny. He dubbed it Globalization 3.0, citing that the previous rounds of globalization, in the 15th century and later when multinational companies emerged, had just incrementally sized down the world.<\/p>\n

But at the turn of this century, Globalization 3.0 moved the needle in such an enormous way that it\u2019s not only a difference in size, it\u2019s a difference in kind.<\/p>\n

Fast forward almost two decades, and insurance powered by bots and data-driven algorithms<\/a> means we can reach endless people in all corners of the globe, and provide them with a similar yet customized experience, without the heavy bureaucracy and costs that discourage the traditional insurance carriers of venturing across the ocean.<\/p>\n

Digitally-enabled folks have a common denominator: they tap to get a ride, order a meal, get groceries delivered, find a soulmate\u2026 and they\u2019d readily do the same to get insurance. We may be divided by international borders, but our connectivity is so intertwined that it has become the natural fabric that weaves us together.<\/p>\n

But it\u2019s not only the technology that makes international prospects so enticing. We believe our mission of trust and transparency is universal too.<\/p>\n

Through his behavioral economics research, our Chief Behavioral Officer, Prof. Dan Ariely, reminds us that the way the insurance system is designed brings out the worst in us<\/a>, humans. Whether you\u2019re in New York or Paris or Tokyo: that inherent conflict between insurance company and its customers brings out bad behavior from all sides. Bad behavior is rooted in the same human nature all over the world.<\/p>\n

So we\u2019re not stopping at the water\u2019s edge.<\/p>\n\t

\r\n\t\t
\r\n\t\t\t

<\/i>We believe that being built on AI and behavioral economics means that, at a profound level, we\u2019re building something with universal appeal.<\/a><\/i><\/p>\r\n\t\t<\/div>\r\n\t\t

<\/i>Tweet this!<\/span><\/a><\/div>\r\n\t<\/div>\r\n \n

The world is flat, it’s time insurance was too.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Our mission is a global one, and our means to go global lie in our being a digital pure-play.<\/p>\n","protected":false},"author":11,"featured_media":2164,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"puppies_section":[],"class_list":{"0":"post-2163","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"post-hentry"},"acf":[],"yoast_head":"\nThe World Is Flat. Insurance Is Round | Lemonade Blog<\/title>\n<meta name=\"description\" content=\"As a tech company doing insurance, there\u2019s no reason a body of water should be an obstacle to reaching new markets and expanding beyond the U.S. Daniel Schreiber, Lemonade's CEO breaks down Lemonade's plans for a global expansion and what that means for the insurance industry at large.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The World Is Flat. Insurance Is Round.\" \/>\n<meta property=\"og:description\" content=\"Our mission is a global one, and our means to go global lie in our being a digital pure-play.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/\" \/>\n<meta property=\"og:site_name\" content=\"Lemonade Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Lemonade\/\" \/>\n<meta name=\"author\" content=\"Daniel Schreiber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The World Is Flat. Insurance Is Round.\" \/>\n<meta name=\"twitter:description\" content=\"Our mission is a global one, and our means to go global lie in our being a digital pure-play.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.lemonade.com\/blog\/wp-content\/uploads\/2017\/12\/IMG_3210.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@daschreiber\" \/>\n<meta name=\"twitter:site\" content=\"@lemonade_inc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Daniel Schreiber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/world-flat-insurance-round\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/world-flat-insurance-round\\\/\"},\"author\":{\"name\":\"Daniel Schreiber\",\"@id\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/#\\\/schema\\\/person\\\/124a6b9b02ded1236b63a3dabb69293a\"},\"headline\":\"The World is Flat. Insurance is Round.\",\"datePublished\":\"2017-12-21T08:28:28+00:00\",\"dateModified\":\"2022-06-09T11:06:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/world-flat-insurance-round\\\/\"},\"wordCount\":642,\"commentCount\":1,\"image\":{\"@id\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/world-flat-insurance-round\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/wp-content\\\/uploads\\\/2017\\\/12\\\/IMG_3210.jpg\",\"articleSection\":[\"news\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/world-flat-insurance-round\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/world-flat-insurance-round\\\/\",\"url\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/world-flat-insurance-round\\\/\",\"name\":\"The World Is Flat. Insurance Is Round | Lemonade Blog\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/world-flat-insurance-round\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/world-flat-insurance-round\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/wp-content\\\/uploads\\\/2017\\\/12\\\/IMG_3210.jpg\",\"author\":{\"@id\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/#\\\/schema\\\/person\\\/124a6b9b02ded1236b63a3dabb69293a\"},\"description\":\"As a tech company doing insurance, there\u2019s no reason a body of water should be an obstacle to reaching new markets and expanding beyond the U.S. Daniel Schreiber, Lemonade's CEO breaks down Lemonade's plans for a global expansion and what that means for the insurance industry at large.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/world-flat-insurance-round\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/world-flat-insurance-round\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/world-flat-insurance-round\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/wp-content\\\/uploads\\\/2017\\\/12\\\/IMG_3210.jpg\",\"contentUrl\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/wp-content\\\/uploads\\\/2017\\\/12\\\/IMG_3210.jpg\",\"width\":919,\"height\":689,\"caption\":\"Lemonade's Global Expansion\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/world-flat-insurance-round\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The World is Flat. Insurance is Round.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/\",\"name\":\"Lemonade Blog\",\"description\":\"Talking innovation, purpose, user experience and insurance\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.lemonade.com\\\/blog\\\/#\\\/schema\\\/person\\\/124a6b9b02ded1236b63a3dabb69293a\",\"name\":\"Daniel Schreiber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/77614b4021e3c63f82d4b62a2407a4fff4111f53235046d5e55f9324b4705257?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/77614b4021e3c63f82d4b62a2407a4fff4111f53235046d5e55f9324b4705257?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/77614b4021e3c63f82d4b62a2407a4fff4111f53235046d5e55f9324b4705257?s=96&d=mm&r=g\",\"caption\":\"Daniel Schreiber\"},\"sameAs\":[\"https:\\\/\\\/x.com\\\/daschreiber\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The World Is Flat. Insurance Is Round | Lemonade Blog","description":"As a tech company doing insurance, there\u2019s no reason a body of water should be an obstacle to reaching new markets and expanding beyond the U.S. Daniel Schreiber, Lemonade's CEO breaks down Lemonade's plans for a global expansion and what that means for the insurance industry at large.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/","og_locale":"en_US","og_type":"article","og_title":"The World Is Flat. Insurance Is Round.","og_description":"Our mission is a global one, and our means to go global lie in our being a digital pure-play.","og_url":"https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/","og_site_name":"Lemonade Blog","article_publisher":"https:\/\/www.facebook.com\/Lemonade\/","author":"Daniel Schreiber","twitter_card":"summary_large_image","twitter_title":"The World Is Flat. Insurance Is Round.","twitter_description":"Our mission is a global one, and our means to go global lie in our being a digital pure-play.","twitter_image":"https:\/\/www.lemonade.com\/blog\/wp-content\/uploads\/2017\/12\/IMG_3210.jpg","twitter_creator":"@daschreiber","twitter_site":"@lemonade_inc","twitter_misc":{"Written by":"Daniel Schreiber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/#article","isPartOf":{"@id":"https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/"},"author":{"name":"Daniel Schreiber","@id":"https:\/\/www.lemonade.com\/blog\/#\/schema\/person\/124a6b9b02ded1236b63a3dabb69293a"},"headline":"The World is Flat. Insurance is Round.","datePublished":"2017-12-21T08:28:28+00:00","dateModified":"2022-06-09T11:06:02+00:00","mainEntityOfPage":{"@id":"https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/"},"wordCount":642,"commentCount":1,"image":{"@id":"https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/#primaryimage"},"thumbnailUrl":"https:\/\/www.lemonade.com\/blog\/wp-content\/uploads\/2017\/12\/IMG_3210.jpg","articleSection":["news"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/","url":"https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/","name":"The World Is Flat. Insurance Is Round | Lemonade Blog","isPartOf":{"@id":"https:\/\/www.lemonade.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/#primaryimage"},"image":{"@id":"https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/#primaryimage"},"thumbnailUrl":"https:\/\/www.lemonade.com\/blog\/wp-content\/uploads\/2017\/12\/IMG_3210.jpg","author":{"@id":"https:\/\/www.lemonade.com\/blog\/#\/schema\/person\/124a6b9b02ded1236b63a3dabb69293a"},"description":"As a tech company doing insurance, there\u2019s no reason a body of water should be an obstacle to reaching new markets and expanding beyond the U.S. Daniel Schreiber, Lemonade's CEO breaks down Lemonade's plans for a global expansion and what that means for the insurance industry at large.","breadcrumb":{"@id":"https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/#primaryimage","url":"https:\/\/www.lemonade.com\/blog\/wp-content\/uploads\/2017\/12\/IMG_3210.jpg","contentUrl":"https:\/\/www.lemonade.com\/blog\/wp-content\/uploads\/2017\/12\/IMG_3210.jpg","width":919,"height":689,"caption":"Lemonade's Global Expansion"},{"@type":"BreadcrumbList","@id":"https:\/\/www.lemonade.com\/blog\/world-flat-insurance-round\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.lemonade.com\/blog\/"},{"@type":"ListItem","position":2,"name":"The World is Flat. Insurance is Round."}]},{"@type":"WebSite","@id":"https:\/\/www.lemonade.com\/blog\/#website","url":"https:\/\/www.lemonade.com\/blog\/","name":"Lemonade Blog","description":"Talking innovation, purpose, user experience and insurance","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.lemonade.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.lemonade.com\/blog\/#\/schema\/person\/124a6b9b02ded1236b63a3dabb69293a","name":"Daniel Schreiber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/77614b4021e3c63f82d4b62a2407a4fff4111f53235046d5e55f9324b4705257?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/77614b4021e3c63f82d4b62a2407a4fff4111f53235046d5e55f9324b4705257?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/77614b4021e3c63f82d4b62a2407a4fff4111f53235046d5e55f9324b4705257?s=96&d=mm&r=g","caption":"Daniel Schreiber"},"sameAs":["https:\/\/x.com\/daschreiber"]}]}},"_links":{"self":[{"href":"https:\/\/www.lemonade.com\/blog\/wp-json\/wp\/v2\/posts\/2163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lemonade.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lemonade.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lemonade.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lemonade.com\/blog\/wp-json\/wp\/v2\/comments?post=2163"}],"version-history":[{"count":1,"href":"https:\/\/www.lemonade.com\/blog\/wp-json\/wp\/v2\/posts\/2163\/revisions"}],"predecessor-version":[{"id":21591,"href":"https:\/\/www.lemonade.com\/blog\/wp-json\/wp\/v2\/posts\/2163\/revisions\/21591"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lemonade.com\/blog\/wp-json\/wp\/v2\/media\/2164"}],"wp:attachment":[{"href":"https:\/\/www.lemonade.com\/blog\/wp-json\/wp\/v2\/media?parent=2163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lemonade.com\/blog\/wp-json\/wp\/v2\/categories?post=2163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lemonade.com\/blog\/wp-json\/wp\/v2\/tags?post=2163"},{"taxonomy":"puppies_section","embeddable":true,"href":"https:\/\/www.lemonade.com\/blog\/wp-json\/wp\/v2\/puppies_section?post=2163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}