Insurtech company Lemonade posted another high loss in the past quarter, but with one billion dollars in cash and a promise to freeze investments in new projects, investors recognize a light at the end of the tunnel. The company published on Tuesday its results for the second quarter of 2022 and stated that “in the… Continue reading Despite 2Q Loss, Lemonade Shares Surge
Tag: MetroMile
Lemonade Lays Off Surprised Metromile Staff Following Acquisition
Lemonade reportedly laid off approximately 20% of Metromile’s staff shortly after acquiring the company. According to Forbes, 60 Metromile employees were let go just hours after Lemonade closed the $145 million deal. A former Metromile employee said “for most people, it came as a surprise…During the merger process, it was widely assumed that everyone would… Continue reading Lemonade Lays Off Surprised Metromile Staff Following Acquisition
Lemonade Completes Acquisition of Metromile
Lemonade, the insurance company powered by AI and social impact, today announced the closing of the acquisition of car insurance provider Metromile. Metromile shareholders received 7.3 million LMND shares, while Lemonade received a business with over $155m in cash, over $110m in premiums, an insurance entity licensed in 49 states, and a team unsurpassed in… Continue reading Lemonade Completes Acquisition of Metromile
Metromile Expands Reach through Independent Agents
Metromile, Inc., a leading digital insurance platform and pay-per-mile auto insurer, today announced a significant expansion of its Independent Agents program, along with the appointment of Scot Rankin, a 30-year insurance veteran, as Independent Agency Relationship Manager. Through an integration with the EZLynx Rating Engine, Metromile can now offer Independent Agents access to Metromile’s high… Continue reading Metromile Expands Reach through Independent Agents
Metromile Launches Ride Along to Demystify Pay-Per-Mile Car Insurance
Metromile, the leading pay-per-mile car insurance company in the U.S., today announced the launch of Ride Along, a free new way for drivers to understand if their driving can result in a lower car insurance rate before they sign up. More than 124 million Americans could be overpaying for car insurance, missing out on as… Continue reading Metromile Launches Ride Along to Demystify Pay-Per-Mile Car Insurance
Ford Partners with Metromile for Pay-Per-Mile Insurance on New Cars
Ford is giving new car buyers a way to save money on insurance now that millions of Americans are working from home and driving less than they were before the coronavirus hit the U.S. The automaker said Thursday it is partnering with start-up insurer Metromile to give drivers easier access to the company’s pay-per-mile insurance… Continue reading Ford Partners with Metromile for Pay-Per-Mile Insurance on New Cars