I mean, I don’t, but I’m pretty sure I know who does.

Somehow we ended up with a Disney on Ice double header this weekend. That’s right, two shows, two different days, two sets of grandparents.

I was listening to an episode of Abel Travis’s Insurance Innovators Unscripted Podcast this week.

The guest was none other than the big squeeze at Lemonade, Daniel Schreiber.

I did my best to fight off his impossible charm speaking any English word long enough to find this moment of clarity.

Why are we refusing to play the game?

Let me explain.

But first, I’ll pepper you with a few quotes from Dan that sailed just over our bow.

“It’s unspoiled by innovation, dominate brands today are the same brands that dominated 100 years ago.”

He’s got us there.

“They still operate mostly the same business and distribution model.”

It’s not all the same, most of us use email now.

“How unloved it is.”

“If you set out to create a system with the express intent to bring out the worst in humanity, it would look a lot like an insurance company.”

Whoops.

“I don’t criticize the incumbents, because I don’t think for a second I could do any better than them. I think the challenges they face are fundamental.”

Well, let’s unfundamentalize them.

“It’s easier building everything from scratch then transforming one of those incumbents.”

If that doesn’t sound like a challenge, I’m not sure what is.

“I wouldn’t know how to start, I wouldn’t know how to do it.”

This is where that moment of clarity comes in.

Abel got a little too excited talking to Daniel about the recent $120 million round of funding Lemonade locked down.

If that’s all it takes, we’re not trying that hard.

Someone isn’t willing to place a $120 million bet that people want great technology, but still have a real human behind it?

We can even call it “Sweet Tea.”

Because let’s be honest, it sounds like a slightly more responsible drink, that still knows how to have a good time on the weekends.

I’m pretty sure Safeco’s got $120 million stuck between a couple couch cushions in their lobby.

Alright, fine that’s probably a little over the top.

However, $120 million to insure, protect and explore the future of our industry is pretty close to Monopoly money for any major insurance company.

I know what you’re thinking, “Joey how do you know that?”

The short answer, I don’t.

I’ll let Daniel handle this one for me instead.

“We’re an industry that measures itself in trillions, not billions.”

So yeah, like I said, Monopoly money.

Also, this is an important note. It can’t just be a new “brand” that operates inside your 100 year old, dark and dingy hallways.

Rather it’s own “full stack” insurance company that refuses to live in their parents basement anymore.

Because, to me, this has always been the most dangerous part of what Lemonade is trying to do.

“We think the problem with insurance is the game, not the players”

We keep betting on them to lose based on the rules of a game we think they have to play.

But, one of the easiest ways to guarantee lasting disruption in an industry is to find a way to rewrite the rule book.

If it only costs $120 million to do it, why don’t we try to write a couple different ones?

See you out there and enjoy your Sunday.

Joey

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