Metromile Announces Second Quarter 2021 Financial Results

Rhea-AI Summary

Metromile, a digital insurance platform and pay-per-mile auto insurer, announced its financial results for Q2 2021. The company highlights its innovative approach to auto insurance, enabling real-time, personalized policies, resulting in annual savings of 47% for customers. Metromile also provides its technology platform to insurance companies globally, enhancing operational efficiency and fraud reduction.

A conference call is scheduled to discuss the results, available on Metromile's investor relations website.

Positive

• Annual average savings of 47% for customers compared to previous insurers.
• Innovative, real-time personalized auto insurance policies.
• Licenses technology to global insurance companies, enhancing operational efficiency.

Negative

• None.

SAN FRANCISCO, Aug. 09, 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 second 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 2:00 pm PT / 5:00 pm ET. 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 product is built for 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 were Metromile's financial results for Q2 2021?

Metromile announced its financial results for Q2 2021 in a shareholder letter.

What savings does Metromile offer its customers?

Metromile offers annual average savings of 47% compared to previous auto insurers.

When is Metromile's conference call to discuss Q2 results?

Metromile's conference call is scheduled for 2:00 pm PT / 5:00 pm ET.

How does Metromile's auto insurance model work?

Metromile uses a pay-per-mile model, providing real-time, personalized insurance policies.

What technology does Metromile provide to other insurance companies?

Metromile licenses its technology platform to enhance operational efficiency and reduce fraud.