Illinois is the first market where customers can subscribe to Lemonade Car. Tennessee will be next, with a national rollout planned in the months ahead, the company said.
As designed, the coverage is intended 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, and also provide 24/7 on-location roadside assistance, real time crash detection, and dispatch of emergency services.
“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.”
Lemonade Car’s claims process, like with its other products, is designed to allow users to file claims in minutes. Peripheral services include 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, the company claims. Blender automates many of the manual processes, which is intended to boost efficiency and save time.
Lemonade said customers can get “significant” discounts when they bundle their auto cover with other Lemonade products. Coverage areas are also focused on Home, Renters, Pet and Life insurance.
Additionally, the company claims to offer better rates and cover 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.
Lemonade’s customer base surpassed 1.2 million as of its 2021 second quarter, though Q2 produced $55.6 million in losses, versus $21 million the year before. The company plans to disclose its Q3 2021 financial results on Nov. 8, 2021, after market close.
