Insurance company to add car insurance to its growing line of products, including homeowners, pet, term life, and renters policies
Lemonade, the insurance company powered by artificial intelligence and behavioral economics, announced it is readying ‘Lemonade Car’ for launch within the year. Early registration is now open at www.lemonade.com/car.
The US car insurance industry is estimated to be about $300 billion—70 times the size of both the renters and the pet insurance markets. A large majority of Lemonade’s existing customers are car owners, and they already spend about $1 billion on car insurance each year.
“We’re seeing an overwhelming demand for a Lemonade car insurance product from our customers. And so, since last year, a large part of our team has been working on what we believe will become one of the best car insurance products on the market,” said Shai Wininger, Lemonade COO and co-founder. “Lemonade Car will use technology to handle emergencies and pay claims fast, will offer great prices to safe drivers, and will be especially attractive to drivers of EVs and environment-friendly cars.”
More about Lemonade here
Lemonade offers renters, homeowners, pet, and life insurance. Powered by artificial intelligence and behavioral economics, Lemonade’s full stack insurance carriers in the US and the EU replace brokers and bureaucracy with bots and machine learning, aiming for zero paperwork and instant everything. A Certified B-Corp, Lemonade gives unused premiums to nonprofits selected by its community during its annual Giveback. Lemonade is currently available in the United States, Germany, the Netherlands, and France, and continues to expand globally.
