Metromile provides usage‑based auto insurance that charges drivers per mile driven, using an OBD‑II or smartphone telematics device to collect real‑time mileage, speed, and location data. The cloud‑native billing engine and mobile app deliver live usage dashboards, per‑trip cost breakdowns, automated claim filing, and optional add‑ons such as unlimited‑mile plans and roadside assistance.
Funding
$170M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional auto insurance policies charge a fixed premium regardless of how many miles a driver actually uses, causing low‑mileage drivers to subsidize high‑usage customers and resulting in overpayment for many policyholders. Insurers also lack precise, real‑time usage data, which limits their ability to price risk accurately.
Solution
Metromile delivers a usage‑based auto insurance product that bills customers for the exact miles they drive. A telematics device (or smartphone‑based sensor) records mileage in real time and streams the data to a cloud‑hosted pricing engine, which applies a per‑mile rate to calculate the premium. The mobile app provides drivers with a live usage dashboard, trip‑by‑trip cost breakdowns, and instant claim filing tools. By aligning premium cost with actual exposure, the model reduces upfront expenses for low‑mileage drivers while maintaining actuarial soundness for the insurer. Aggregated, anonymized driving data feed continuous improvement of risk models, enabling dynamic rate adjustments without manual underwriting. Optional add‑ons such as roadside assistance and unlimited‑mile plans are offered through the same platform, creating a modular, scalable insurance experience.
Target Audience
The primary customers are low‑mileage private drivers—urban commuters, occasional drivers, and part‑time vehicle owners—and small fleet operators seeking cost‑effective, usage‑aligned coverage.
Features
- OBD‑II or smartphone‑based telematics module that captures mileage, speed, and location with sub‑second granularity
- Cloud‑native per‑mile billing engine that applies real‑time usage data to a configurable rate schedule
- Mobile app dashboard showing live miles driven, projected monthly cost, and historical usage analytics
- Automated claim submission workflow with photo upload, AI‑driven damage assessment, and instant payout estimates
- RESTful API for fleet partners to integrate mileage data into their own risk‑management systems
- GPS‑based fraud detection algorithms that flag inconsistent routes or speed anomalies
- End‑to‑end encryption and compliance with GDPR and CCPA for driver privacy
- Optional subscription tier offering unlimited miles and bundled roadside assistance