Why Is Warren Buffett Worried About This AI Insurance Company?
Warren Buffett didn't have a lot of nice things to say about insurance technology companies during the recent Berkshire Hathaway annual meeting. He said he wouldn't want to own any of them and noted that they've reported huge losses and eaten up capital.
At the same time, Berkshire's head of insurance operations, Ajit Jain, said the conglomerate is trying to move into digital processes, but that it's proving much more challenging than he expected.
There are now a number of digital insurance companies on the stock market, with Lemonade (NYSE: LMND) being one of the most talked about. Is Buffett missing out on an opportunity here?
Source Fool.com
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