Metromile Announces Fourth Quarter and Full Year 2020 Results

Rhea-AI Summary

Metromile, Inc. (NASDAQ: MILE, MILEW) announced its fourth quarter and full year 2020 financial results on March 30, 2021. The shareholder letter detailing these results is available on the company's investor relations website. Metromile offers personalized pay-per-mile auto insurance and leverages data science to provide competitive pricing, claiming an average savings of 47% for its customers compared to traditional insurers. The company also licenses its technology platform to global insurance firms through Metromile Enterprise.

Positive

• Metromile reports an average savings of 47% for customers compared to previous insurers.
• The company utilizes data science to provide personalized auto insurance.
• Metromile Enterprise licenses its technology to other insurance companies, expanding revenue potential.

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• None.

SAN FRANCISCO, March 30, 2021 (GLOBE NEWSWIRE) -- Metromile, Inc. (“Metromile”) (NASDAQ: MILE, MILEW), a leading digital insurance platform and pay-per-mile auto insurer, today announced financial results of Metromile Operating Company (formerly MetroMile, Inc.) for the fourth quarter and full year 2020 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 standard approximations and estimates 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 financial results did Metromile announce for 2020?

Metromile announced its fourth quarter and full year 2020 financial results on March 30, 2021, as part of its shareholder letter.

How does Metromile's pricing model work?

Metromile uses a pay-per-mile model, providing auto insurance that charges customers based on the miles they drive, claiming a 47% average savings for users.

What is Metromile Enterprise?

Metromile Enterprise allows the company to license its technology platform to global insurance companies, enhancing operational efficiency.

What are Metromile's stock symbols?

Metromile's stock symbols are MILE and MILEW, traded on NASDAQ.