Metromile Beefs up Technology, Looking to Grow
Pay-per-mile insurer Metromile is beefing up its technology environment with recent implementations of claims software from Guidewire Software and Hyland, while making other moves to increase its footprint in the U.S. insurance market.
The San Francisco-based startup deployed Guidewire ClaimCenter and OnBase by Hyland’s as an integrated platform on September 21. The automated cloud software will shorten Metromile’s claims processes from first notice of loss through settlement, according to the vendors. Initial rollout of the technologies spanned across New Jersey, Oregon and Pennsylvania.
“It was important for us to ensure we were built upon the most solid industry standard for processing claims so we could focus on the long-term potential of the core consumer facing experience, says Dan Preston, CEO of Metromile.
The company also announced completion of another financing round, bringing its total raised since 2014 to $192 million. And, it has used newfound wealth from investors Intact Financial and Index Ventures, among others, to acquire Mosaic Insurance Company, according to Bloomberg.