Lemonade has entered a deal to acquire Metromile, the insurtechs announced late Monday.
Under the terms of the transaction, Metromile shareholders will receive Lemonade common shares at a ratio of 19:1.
Metromile has been refining its
"[Metromile] have been down this road already, and their proprietary data and machine learning algorithms can transform Lemonade Car by collapsing time, flattening risk, and increasing efficiency," Lemonade CEO Daniel Schreiber said in a blog post.
Insurers embedding coverage in other venues are finding the practice adds risks, and agents point to their value for interpreting coverage to policy buyers.
Allstate found that customers who use Drivewise are 25% less likely to experience a severe collision than those who don't.
Geico, State Farm and Progressive ranked as top three overall in Keynova's Mobile Insurance Scorecard.
The top five states have an average of 489.8 AI-related online searches per month for every 100,000 residents.
Globe Life; AAA; and more law and legal news out of Maryland and Florida.
The record drop in Globe Life Inc. this week extended a streak of wins for the short-selling group that released a report against the insurance company.