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Israeli digital insurance coverage firm Lemonade (NYSE: LMND) at this time introduced that it has launched its latest product Lemonade Automotive. The digital automobile insurance coverage product is obtainable in Illinois, with Tennessee coming subsequent and different US states thereafter.
The corporate stated that Lemonade Automotive is designed to supply higher costs for protected and low-mileage drivers, in addition to environment-friendly electrical automobiles and hybrid automobiles. The Lemonade app makes use of telematics to measure how a lot and the way protected individuals drive, in addition to present 24/7 on-location roadside help, actual time crash detection, and dispatch of emergency providers.
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Prospects may even obtain vital reductions when bundling with different Lemonade merchandise. The brand new automobile bundles permit new and present clients to buy Lemonade Automotive alongside Dwelling, Renters, Pet, or Life merchandise and save as much as lots of of {dollars} a yr.
Lemonade Automotive’s first-of-its-kind claims course of permits customers to file claims in minutes, and when wanted, get tow providers, emergency EV battery recharge, and the flexibility to trace repairs, physique store work, and extra.
Utilizing Blender, the corporate’s proprietary insurance coverage working system, Lemonade’s declare advocates are capable of deal with extra claims in a shorter time frame and with better effectivity than conventional insurance coverage programs. Blender automates lots of the in any other case time consuming, guide processes, which interprets into happier clients and decrease prices.
Lemonade cofounder and CEO Shai Wininger stated, “We stood up whole groups to deal with tows, repairs, physique store providers, in addition to help for the 24/7 roadside help and emergency providers we now supply. Offering a best-in-class automobile claims expertise means being there in your clients 100% of the time, with surprisingly quick service and plenty of empathy.”
He added, “We needed to introduce a product that won’t solely reinvent how individuals purchase automobile insurance coverage, handle their coverage, and file claims, but in addition do one thing good for the planet. Since we will’t cease utilizing automobiles simply but, we’ll assist compensate for the CO2 emitted from our clients’ automobiles by financing reforestation on an ongoing foundation. Utilizing the telematics expertise in our app, we’re capable of estimate how a lot carbon dioxide is emitted by every trip, and plant bushes accordingly.”
The corporate’s share value is up 6.83% at $72.71, giving a market cap of $4.462 billion.
Printed by Globes, Israel enterprise information – en.globes.co.il – on November 3, 2021.
© Copyright of Globes Writer Itonut (1983) Ltd., 2021.
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