InsurTech Magazine September 2020 | Page 86

TOP 10

2011

YEAR FOUNDED

USA

COUNTRY

Dan

Preston
CEO
86

07

Metromile

Valuation : $ 1.13bn

The leading ‘ pay-per-mile ’ automotive insurance company currently operating in the US , Metromile combines cutting-edge machine learning software with a customer-centric design to produce an innovative and disruptive result . The company manages to offer customers extremely competitive monthly premiums which are supplemented by paying a few cents for every mile travelled . Therefore , for customers who don ’ t clock up many miles , car insurance will be significantly cheaper , whilst more peripatetic drivers will still pay comparatively low costs even if their mileage is several hundred each month . SEPTEMBER 2020