Metro­mile Beefs up Tech­nol­ogy, Look­ing to Grow

Digital Insurance - - INDUSTRY BRIEFS -

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.

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