In the early days of insurance—through mutual fire societies or the sharing of maritime risk at Lloyd’s coffee house—the mutual benefit of policies to all parties was obvious. The situation is very different today, when 25 percent of Americans believe that it’s acceptable to defraud their insurance company, and the Urban Dictionary defines insurance as “A business that involves selling people promises to pay later that are never fulfilled,” as Lemonade CEO Daniel Schreiber noted in his Wednesday, March 29 address at The Silicon Valley Insurance Accelerator’s Core Systems and InsurTech FUSION conference in San Francisco.