""Traditional insurers treat a Tesla like any other car, and AI like any other driver. But a driver who can see 360 degrees, never gets drowsy, and reacts in milliseconds isn't like any other driver," Shai Wininger, co-founder and president of Lemonade, said in a statement. "Our existing pay-per-mile product has given us something no traditional insurer has: a unique tech stack designed to collect massive amounts of real driving data for precise, dynamic pricing.""
"Lemonade said on Wednesday that it is leveraging "vehicle telemetry data that was previously unavailable" thanks to a "technical collaboration with Tesla," though the insurance company declined to offer more specifics. Lemonade said it would train its own usage-based risk prediction models to determine when a driver is using Full Self-Driving or operating the vehicle themselves, and price accordingly. Lemonade is calling the new product "Autonomous Car insurance.""
Lemonade is launching an insurance product called Autonomous Car insurance for users of Tesla's Full Self-Driving (Supervised) system, promising to cut per-mile rates by approximately 50%. The product uses vehicle telemetry data obtained via a technical collaboration with Tesla and trains usage-based risk-prediction models to detect when the software is driving versus when a human is operating the vehicle, and prices accordingly. The offering will debut in Arizona on January 26 and in Oregon the following month. Pricing is intended to fall as FSD software becomes safer, and the product leverages Lemonade's pay-per-mile tech stack that collects real driving data.
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