Metromile provides pay-per-mile car insurance. The startup has created a device that captures mileage data to determine how much a person should pay for their car insurance policy. Free plug-in device turns ordinary cars into smart cars. The device works with Metromile’s smartphone app (Metronome), which diagnoses the health of the car, location and offers tips to help the user with their daily commute.
PRODUCTS & SERVICES:
A pay-per-mile insurance cover with an app to make claim and communication easy.
Viewable by subscribers only
Retail vehicle insurance customers
Uber - to provide personal/commercial per-mile car insurance plan for Uber drivers
PRIMARY PROBLEM SOLVED:
The service aims to reduce car insurance prices for drivers.
Metromile’s companion app help drivers remember where they parked, avoid street-cleaning tickets, optimize their fuel efficiency and know when to commute for the lightest traffic.
Metromile is expanding across the US, and currently empowering drivers in California, Illinois, New Jersey, Oregon, Pennsylvania, Virginia and Washington.
DATE OF LAST FUNDING:
TOTAL FUNDING COMMENT:
The company has plans to use the funds to expand its pay-per-mile insurance and to simplify every step of the insurance experience through the use of artificial intelligence (AI) in claims processing. (July 2018)