As part of its value proposition, Lemonade will offer car insurance based on telematics technology. The technology enables the collection of accurate real-time information on the driving patterns of each insured, and rates the manner of driving according to criteria such as: the number of times they pressed the brakes, how many times they exceeded the speed limit, highway travel, the number of sharp movements, etc. This is in contrast to the traditional insurance companies, which base their pricing on rough generalizations of population groups such as age, gender, etc., which limits them to exact pricing for each driver according to his level of risk.
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The company also offers a claims process that allows customers to submit claims within a few minutes, and when necessary to receive all the necessary assistance – starting with towing services, emergency EV battery charging, the ability to track repairs, body work and more. Moreover, drivers who make environmentally friendly choices, such as low-mileage driving or who own a hybrid or electric vehicle, will be able to enjoy car insurance at a discounted price.