Metromile Announces First Quarter 2021 Results

Rhea-AI Summary

Metromile, a digital insurance platform and pay-per-mile auto insurer, announced its first quarter 2021 financial results in a shareholder letter. The letter details Metromile's strategy of providing personalized, mileage-based auto insurance, typically resulting in annual savings of 47% for customers compared to traditional insurers. Additionally, the company offers a technology platform for other insurance providers, enhancing operational efficiency and reducing fraud. A conference call to discuss these results is scheduled for May 17, 2021, at 5:00 PM ET.

Positive

• Annual average savings of 47% for customers compared to previous insurers.
• Offers a unique, personalized pay-per-mile auto insurance model.
• Licenses technology platform to other insurance companies, potentially increasing revenue.

Negative

• None.

SAN FRANCISCO, May 17, 2021 (GLOBE NEWSWIRE) -- Metromile, Inc. (“Metromile”) (NASDAQ: MILE, MILEW), a leading digital insurance platform and pay-per-mile auto insurer, today announced financial results for the first quarter 2021 in its shareholder letter. The letter is accessible on Metromile’s investor relations website at ir.metromile.com.     

Metromile will hold a conference call to discuss the results at 5:00 pm ET / 2:00 pm PT. A live webcast of the conference call will be available on Metromile’s investor relations website at ir.metromile.com. The dial-in number for the conference call is (877) 407-0789 (toll-free) or (201) 689-8562 (international). Please dial the number 10 minutes prior to the scheduled start time.

A webcast replay of the call will be available at ir.metromile.com for 90 days following the call.

About Metromile

Metromile (NASDAQ: MILE, MILEW) is a leading digital insurance platform in the United States. With data science as its foundation, Metromile offers real-time, personalized auto insurance policies by the mile instead of the industry’s reliance on approximations that have historically made prices unfair. Metromile’s digitally native offering is built around the modern driver’s needs, featuring automated claims, complimentary smart driving features and annual average savings of 47% over what they were paying their previous auto insurer.

In addition, through Metromile Enterprise, it licenses its technology platform to insurance companies around the world. This cloud-based software as a service enables carriers to operate with greater efficiency, automate claims to expedite resolution, reduce losses associated with fraud, and unlock the productivity of employees.

For more information about Metromile, visit www.metromile.com and enterprise.metromile.com.

Contacts

Investor Relations

Garrett Edson, ICR
ir@metromile.com
646-677-1889

Public Relations

Rick Chen, Metromile
press@metromile.com
415-676-7744

FAQ

What are the first quarter 2021 results for Metromile (MILE, MILEW)?

Metromile announced its financial results for Q1 2021 in a shareholder letter, sharing details about their strategy and customer savings.

When is the conference call for Metromile's Q1 2021 results?

The conference call is scheduled for May 17, 2021, at 5:00 PM ET.

How does Metromile's pay-per-mile insurance model benefit customers?

Customers can save an average of 47% annually compared to traditional auto insurers due to the personalized, mileage-based pricing.

What technology does Metromile offer to other insurance companies?

Metromile licenses its technology platform which enhances operational efficiency and helps automate claims.