Insure-Tech Firm Lemonade to Offer Car Insurance

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Auto insurance startup Lemonade Inc rolls out an auto insurance business, going beyond home, pet and life insurance policies to one of the most competitive segments in the industry.

The company’s co-founder and co-CEO Daniel Schreiber said in an interview that the New York-based company will rely heavily on remote communications to increase the risk profile of applicants. The company said it will also initially use at least some of the traditional rating factors, such as age, gender and credit scores. She said the product is now available in Illinois and sales will begin in other states soon.

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