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Lemonade Continues U.S. Expansion With Launch of Car Insurance in Indiana

1. Lemonade launches Car in Indiana, expanding its U.S. footprint. 2. Car's in-force premium growth outpaced other products in Q1 2025. 3. Indians spend $5 billion annually on car insurance, benefiting Lemonade. 4. Lemonade's growth strategy includes state rollouts and bundled pricing offers. 5. The company emphasizes tech-driven insurance tailored for modern drivers.

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Why Bullish?

The launch in Indiana signifies a strategic growth initiative, with potential for substantial market capture in a state where car insurance spending is significant.

How important is it?

The article highlights a key entry into a lucrative market, crucial for future revenue growth, positively impacting investor sentiment.

Why Long Term?

Ongoing expansion into more states and continuous product development indicates a solid long-term growth strategy. Historical examples show sustained stock price increases during expansion phases.

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CINFAFLT
-Hoosier drivers can now access tech-powered coverage built for today’s world NEW YORK & INDIANAPOLIS--(BUSINESS WIRE)--Lemonade (NYSE: LMND), the digital insurance company powered by AI and social impact, today announced the launch of Lemonade Car in Indiana, marking the latest step in the company’s expanding U.S. footprint. Drivers across the state can now access Lemonade’s full suite of insurance products—all built for the digital age. As laid out in recent quarterly results and at Investor Day, Lemonade Car is a key growth driver in the company’s strategy. Q1 2025 marked the first quarter where Car’s sequential in-force premium (IFP) growth outpaced the rest of Lemonade’s book—underscoring its accelerating momentum. Following the recent launch in Colorado, Indiana is the next step in a series of state rollouts planned for 2025. With this addition, Lemonade Car is now available in states representing approximately 42% of the U.S. car insurance market. Hoosiers spend an estimated $5 billion annually on car insurance, and Lemonade’s existing customers in the state already account for hundreds of millions in annual premiums—making Indiana a natural fit for the company’s expanding car product. “Car insurance hasn’t kept up with how people actually drive today,” said Daniel Schreiber, co-founder and CEO at Lemonade. “With Lemonade Car, we’re using tech to change that—making coverage fairer, simpler, and smarter. Expanding into Indiana is both a strategic milestone and a natural next step for us. With our full suite of products now available in the state, we can offer bundled pricing and smart insurance tailored for tech-savvy Hoosiers.” To explore more insights on how Gen Z is reshaping driving habits—and what that means for modern car insurance—check out Lemonade’s research: “The Gen Z Driving Shift You Didn’t See Coming.” Lemonade also created a guide to help drivers navigate their insurance options, breaking down what’s required and what’s recommended when hitting the road in the Hoosier State. You can check it out here or get started with a quote in minutes at lemonade.com/car. About Lemonade Lemonade offers renters, homeowners, car, pet, and life insurance. Powered by artificial intelligence and driven by social impact, Lemonade replaces brokers and bureaucracy with bots and machine learning—delivering zero paperwork and instant everything. A Certified B-Corp, Lemonade donates unused premiums to nonprofits selected by its community, as part of its annual Giveback program. Lemonade is available in the United States, Germany, the Netherlands, France, and the UK, and continues to expand globally. More News From Lemonade

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