Metromile, Inc. – per-mile insurance for low-mileage drivers.
|Type||Private Company (2011-21); Public (since 2021)|
|Traded as||Nasdaq: MILE|
|Founded||2011 in Redwood City|
|Founders||David Friedberg, Steve Pretre|
|Areas served||California, Illinois, New Jersey, Pennsylvania, Virginia, Washington, Arizona, Oregon|
|Products||Pay-per-mile insurance, driving app|
- Metromile, Inc. is a San Francisco-based technology startup that offers pay-per-mile car insurance.
- Pay-per-mile insurance is a type of usage-based insurance where the user pays a base rate along with a fixed rate per mile.
- The billing model is intended to benefit low-mileage drivers and does not take driving style or behavior into account (for determining rates or discounts).
- To measure mileage, the Metromile Pulse device is plugged into the onboard diagnostic (OBD-II) port of the car.
- The OBD-II port is the same port that mechanics use to diagnose issues that trigger a car’s “check engine” light.
- The device then transmits mileage data to servers.