The Lessons of the Modern, the Lemonades of the World

I think all these companies started with a particular thesis that I'm not sure has ended up becoming true in the market. Metro mile and root both said, what if we integrate telematics into our personal auto pricing? Because we do that, we therefore ought to have lower loss ratio. This hasn't turned out to be the case with either of those companies. Both of them had, I would say, relatively disappointing loss ratios. That doesn't mean telematics is bad, you know, progressive, for example, is one of the leaders in personal auto through a telematics for a strategy. It just means that these new entrants, you have to make sure that your story lines