Lemonade, which has been on the agenda in recent months with its acquisition of Metromile, does not leave the agenda with blockchain technology this time. It was learned that the main purpose of this innovation, which Lemonade founded and started with the Lemonade Foundation, a non-profit organization, is for agritechnologies. The Lemonade Crypto Climate Coalition, also referred to as a “Decentralized Autonomous Organization” working to provide and take care of the distribution and distribution of parametric air insurance to farmers and livestock breeders, has been officially announced.
Agricultural technologies – in other words, agritechs and agrotechnologies – that have emerged after many disasters such as global warming in recent years are in a very trendy situation. Supported by Lemonade, this formation includes members from Avalanche, Hannover Re, Pula, Tomorrow.io, Chainlink, DAOstack and Etherisc. Working together in the coalition to identify weather risk, automate damage assessment, and provide financing & reinsurance. At the same time, it supports the statements that blockchain parametric insurance will be made available in Africa for the first time in the next year, and that “people who need it most will be given priority”!
Daniel Schreiber, Director of the Lemonade Foundation, stated in his statement that it was founded to create effective technologies. and we hope to take advantage of its decentralized aspects and real-time weather data.”
Customer Experience with Inspirexpress
In addition, Lemonade, who wants to bring a different perspective to the "Customer Experience", which attracts the attention of the insurance industry, talks about "making the fast customer experience less scary with digital transformation" with InspireXpress. InspireXpress is an initiative that helps insurance companies build agile, effective and unified customer communication management (CCM) infrastructures and improve customer experience.
Sponsorship News from Quadient!
It seems that the “insurance sector” will now be positioned far from what is known! According to the researches, the point where the insurance wants to be positioned; It is expressed in stable currencies or evaluated in terms of traditional currencies such as the US Dollar. In short, it is aimed to be a decentralized application on Avalanche, the smart contract platform within the insurance blockchain industry. It is intended, however, that farmers will be able to make and receive payments in local currencies or hard currency using their phones.
The Lemonade Foundation has started providing start-up capital to support DAO smart contracts. Director Daniel Schreiber; “An on-chain solution that can be immediately effective at scale will finally ensure that farmers are financially protected against increasingly frequent risks such as drought.”