| Segment | Value | % of Price | Type |
|---|---|---|---|
| Net Cash | $11 | 17% | auditable |
| Core Insurance Book (Renters, Homeowners, Pet) | $38 | 59% | anchored |
| Car Insurance | $11 | 17% | anchored |
| AI Platform / Long-Term Optionality | $5 | 8% | speculative |
Anchored: $49/sh (75%) · Speculative: $5/sh (8%)
Car insurance is Lemonade's highest-stakes bet. The US auto insurance market is roughly 65 times larger than renters, and average car premiums run 4-5 times higher per customer. Lemonade Car is available in 7+ states covering about 42% of the US population, with 700,000 customers on the waitlist....