Lemon-aid to the rescue

Lemon-aid to the rescue

Share this article


Insurance company Lemonade (LMND) is opening early registration for its new service, Lemonade Car, which will launch before the end of the year.

The firm already offers home, pet, and life policies. It is now adding car insurance to service bundle, and customers will be able to combine their car insurance with other policies. Lemonade, which is known for relying heavily on AI and behavioral economics, says it will use high tech to “handle emergencies and pay claims fast” and that the service will be “especially attractive” to EV and other environment-friendly cars. Clearly the folks at Lemonade know where the big bucks lie!

Why it matters

The US car insurance industry is worth about $300b, and many of Lemonade’s customers are already car owners – so this makes total sense from a business perspective. Plus, Lemonade's high tech services will surely experience higher demand as more and more people opt for electric cars.
akbaraka

Get Smarter
About Investing

Join 35,000+ subscribers and get our 5 min daily newsletter on daily local and international financial news.
akhbaraka
Get Smarter<br/> About Investing

Similar News