Metromile is a San Francisco-based car insurance startup that offers pay-per-mile insurance and a driving app. It is currently the only company offering pay-per-mile insurance in the United States.
Pay-per-mile 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. Metromile provides a full customer service team and 24/7 claims team. Policies are underwritten by National General Insurance, previously known as GMAC, coverage level options are the same as those offered by other major providers.
Per-mile insurance through Metromile is currently available in California, Illinois, Oregon, Pennsylvania, Virginia and Washington. Uber driver-partners are able to sign up for per-mile insurance currently in California, Washington, and Illinois. Drivers in other states can add themselves to a waitlist to be notified as additional states become available. Metromile is only offering personal car insurance policies at this time.
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Driving app
The Pulse device provided to per-mile insurance customers also collects data about trips and car health. Metromile visualizes this information in an app to give drivers insights that can simplify car ownership. Features include street sweeping alerts, where the driver is notified if their car is parked in a street sweeping zone, and a car health monitor. The car locator feature shows where a car is parked, and some users have recovered their stolen vehicles by knowing their car's location. The app is currently available for both iOS and Android phones.
In June 2015, the Metromile Tag was introduced to give non-insurance customers a way to also use the driving app. The Tag wirelessly connects to smartphones via iBeacon technology.
Uber insurance
In January 2015, Metromile partnered with Uber to offer insurance for Uber drivers that do not require commercial coverage. The per-mile policy covers Period 1 when the Uber app is on but the driver has not been matched with a passenger, and personal time when the app is turned off. Outside of this time the driver is covered by Uber's commercial policy - from the time the driver accepts a ride and is on route to pick up the passenger (period 2) and when the passenger is in the car (period 3). The partnership enables both companies' systems to verify drivers and vehicles, which then allows Metromile to deduct miles covered by Uber's commercial policy from a driver's total monthly bill.
History
Metromile was founded in Redwood City, CA in 2011 by David Friedberg and Steve Pretre. David Friedberg currently sits as the chairman of the board, and the company is led by CEO Dan Preston. To date, Metromile has raised $14 milion in Series A and B funding with investors including NEA, Index Ventures, First Round Capital, and SV Angel. In 2013, the company moved its headquarters to San Francisco and in April 2015 added a second office space. A new location was opened in Boston in April 2015 and in Tempe in May 2015.
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