Metromile sells car insurance based on mileage driven, giving low-mileage drivers better rates. It uses telematics and mobile software to price risk and help drivers with extra services, such as helping them find parking or providing information about street cleaning times.
It has raised $293mn in funding since 2011.
The carrier is on track to write around $100mn in premiums in 2019, financial filings indicate. In the first half of 2019, the company wrote $52mn in direct written premiums.
https://www.insuranceinsider.com/articles/129043/insurtech-metromile-plans-for-life-as-public-company