Metromile Announces Fourth Quarter and Full Year 2021 Financial Results

Rhea-AI Summary

Metromile, a digital insurance platform and pay-per-mile auto insurer, announced its fourth-quarter and full-year 2021 financial results. However, due to a pending transaction with Lemonade, no conference call will be held. Metromile utilizes data science to offer personalized, mile-based insurance, achieving an annual average savings of 47% for its users compared to traditional insurers. The company also licenses its technology platform through Metromile Enterprise, enhancing efficiency for insurance companies worldwide.

Positive

• Annual average savings of 47% for customers compared to previous insurers.
• Technological platform enhances efficiency for global insurance companies.

Negative

• No conference call held for earnings release due to pending transaction with Lemonade.

SAN FRANCISCO, Feb. 28, 2022 (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 fourth quarter and full year 2021 on its website. The results are accessible on Metromile’s investor relations website at ir.metromile.com.     

Due to the pending transaction with Lemonade announced on November 8, 2021, the Company will not host a conference call in conjunction with its fourth quarter and full year 2021 earnings release. Please visit the Investor Relations section of the Company’s website at http://ir.metromile.com for the latest releases and information.

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

Metromile:

Media Inquiries: press@metromile.com

Investor Relations: IR@metromile.com

FAQ

What were Metromile's Q4 2021 financial results?

Metromile announced its Q4 2021 results, which can be viewed on their investor relations website.

Why didn't Metromile hold a conference call for its earnings release?

Metromile did not hold a conference call due to a pending transaction with Lemonade.

How does Metromile's insurance model benefit customers?

Metromile's pay-per-mile model offers customers an average savings of 47% compared to traditional auto insurance.

What is Metromile Enterprise?

Metromile Enterprise licenses its technology platform to enhance operational efficiency for insurance companies.