InsureTech could decimate costs: Lemonade CEO

Costs in the industry could be slashed by a factor of ten, the
CEO and co-founder of insurance startup Lemonade has said.
Speaking at a conference in New York, Daniel Schreiber claimed
new entrants to the market had a significant advantage over
incumbent insurers.
"We've got a much easier job than traditional insurance
companies," he said. "Starting from scratch and being
legacy free is incredibly empowering."
He claimed that in US homeowners insurance, the space in which
Lemonade plays, expense