Lemonade’s newest product features great prices
for safe drivers, best-in-class service, and perks for
environment-conscious customers
Lemonade, the insurance company powered by AI
and social good, today unveiled its newest product - Lemonade Car -
designed to bring a fresh, tech-first approach to the category.
Lemonade Car is now available in Illinois and will be rolling out
nationwide.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20211103005308/en/
Lemonade Car Homescreen (Photo: Business
Wire)
Lemonade Car is designed to offer better prices for safe and
low-mileage drivers, as well as environment-friendly EVs and hybrid
cars. The Lemonade app uses telematics to measure how much and how
safe people drive, as well as provide 24/7 on-location roadside
assistance, real time crash detection, and dispatch of emergency
services.
In addition, customers will automatically receive significant
discounts when bundling with other Lemonade products. The new car
bundles allow new and existing customers to purchase Lemonade Car
alongside Home, Renters, Pet, or Life products and save up to
hundreds of dollars a year.
Lemonade Car's first-of-its-kind claims process allows users to
file claims in minutes, and when needed, get tow services,
emergency EV battery recharge, and the ability to track repairs,
body shop work, and more. Using Blender, the company’s proprietary
insurance operating system, Lemonade’s claim advocates are able to
handle more claims in a shorter period of time and with greater
efficiency than traditional insurance systems. Blender automates
many of the otherwise time consuming, manual processes, which
translates into happier customers and lower costs.
“We stood up entire teams to handle tows, repairs, body shop
services, as well as support for the 24/7 roadside assistance and
emergency services we now offer,” said Shai Wininger, Lemonade’s
CEO and cofounder. “Providing a best-in-class car claims experience
means being there for your customers 100 percent of the time, with
surprisingly fast service and lots of empathy.”
As a public benefit corporation and B-Corp, Lemonade will
continue its long-standing commitment to never invest in fossil
fuels and polluting industries, as well as to incorporate
incentives to reduce CO2 emissions. Lemonade Car offers better
rates and coverage for electric vehicles and hybrid cars, rewards
low-mileage drivers with lower insurance rates, and will fund
reforestation to help clean up after customers’ carbon emissions,
over time.
“We wanted to introduce a product that will not only reinvent
how people buy car insurance, manage their policy, and file claims,
but also do something good for the planet. Since we can’t stop
using cars just yet, we will help compensate for the CO2 emitted
from our customers’ cars by financing reforestation on an ongoing
basis. Using the telematics technology in our app, we’re able to
estimate how much carbon dioxide is emitted by each ride, and plant
trees accordingly.” said Wininger.
Lemonade Car is now available to customers in Illinois with
Tennessee coming next, and additional states across the U.S.
rolling out thereafter.
Get a peek behind the scenes of the Lemonade Car product and its
making.
To get a quote, or get notified when Lemonade Car becomes
available in your state, visit www.lemonade.com/car.
About Lemonade
Lemonade offers renters, homeowners, pet, car, and life
insurance. Powered by artificial intelligence and social good,
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.
Follow @lemonade_inc on Twitter for updates.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements contained in this press release that do not
relate to matters of historical fact should be considered
forward-looking statements, including statements regarding the
anticipated success of our car insurance product, as well as our
related incentives to reduce CO 2 emissions. These statements are
neither promises nor guarantees, but involve known and unknown
risks, uncertainties and other important factors that may cause our
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements, including,
but not limited to, the following: our history of losses and the
fact that we may not achieve or maintain profitability in the
future; our ability to retain and expand our customer base; the
fact that the “Lemonade” brand may not become as widely known as
incumbents’ brands or the brand may become tarnished; the denial of
claims or our failure to accurately and timely pay claims; our
ability to attain greater value from each user; the novelty of our
business model and its unpredictable efficacy and susceptibility to
unintended consequences; the possibility that we could be forced to
modify or eliminate our Giveback, which could undermine our
business model; the results of examinations by our primary state
insurance regulator that could result in adverse examinations
findings and necessitate remedial actions or give rise to
regulatory orders requiring remedial, injunctive, or other
corrective action; our limited operating history; our ability to
manage our growth effectively; the impact of intense competition in
the segments of the insurance industry in which we operate on our
ability to attain or increase profitability; the unavailability of
reinsurance at current levels and prices, which could limit our
ability to write new business; our ability to renew reinsurance
contracts on comparable duration and terms to those currently in
effect; our exposure to counterparty risks as a result of
reinsurance; the loss of personal customer information, damage to
our reputation and brand, or harm to our business and operating
results as a result of security incidents or real or perceived
errors, failures or bugs in our systems, website or app; our actual
or perceived failure to protect customer information and other
data, respect customers’ privacy, or comply with data privacy and
security laws and regulations; our ability to comply with extensive
insurance industry regulations and the need to incur additional
costs or devote additional resources to comply with changes to
existing regulations; our exposure to additional regulatory
requirements specific to other vertical markets that we enter or
have entered, including auto, pet and life insurance, and the need
to devote additional resources to comply with these regulations;
and our inability to predict the lasting impacts of COVID-19 to our
business in particular, and the global economy generally. These and
other important factors, discussed under the caption “Risk Factors”
in our Annual Report on Form 10-K for the period ended December 30,
2020 and our other filings with the Securities and Exchange
Commission could cause actual results to differ materially from
those indicated by the forward-looking statements made in this
press release. Any such forward-looking statements represent
management’s beliefs as of the date of this press release. While we
may elect to update such forward-looking statements at some point
in the future, we disclaim any obligation to do so, even if
subsequent events cause our views to change.
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version on businesswire.com: https://www.businesswire.com/news/home/20211103005308/en/
Lemonade Press Natalie Gerke press@lemonade.com
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