Concluding that “that true disruptive innovation is almost impossible within the framework of legacy carriers,” Ty Sagalow, formerly president of product development at AIG, has joined Lemonade, a startup that says its peer-to-peer technology will revolutionize the insurance business.
Sagalow will serve as chief insurance officer for the nascent company, which plans to launch in the first half of the year under founders Daniel Schreiber and Shai Wininger, with financial backing from Aleph and Sequoia Capital. Other insurance executives signing on include Robert Giurlando, previously SVP and chief underwriting officer at ACE, who is Lemonade’s chief underwriting officer; James Hageman, who left his job as SVP of claims at ACE to become the startup’s chief claims officer; and Ron Topping, who also is an AIG vet and is now Lemonade’s CFO.
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