Mile Auto Secures $10.3 Million in Seed Funding to Expand Low-Cost Car Insurance Offering Across U.S.
"The auto insurance industry has operated decades behind other industries that have undergone digital transformation. Today it is at a pivotal juncture where innovation is finally unlocking cost savings for consumers," said
Mile Auto will use the funding to expand availability of its insurance offering to half of the
Mile Auto leverages its patented computer vision and machine learning technologies to collect and validate odometer data without the need for extra hardware, mobile apps or GPS tracking. By having clear insights into actual usage, Mile Auto is changing the way car insurance is purchased by requiring drivers to pay only for what they use, resulting in savings of up to 60%. Currently Mile Auto is available in
"Mile Auto makes car insurance fair and transparent for lower mileage drivers who have been overpaying and underserved for too long," said
About Mile Auto
Mile Auto is a next-generation insurtech company that leverages computer vision and decision analytics to support pay-per-mile auto insurance offerings. Launched in 2019 and based in
View original content:http://www.prnewswire.com/news-releases/mile-auto-secures-10-3-million-in-seed-funding-to-expand-low-cost-car-insurance-offering-across-us-301297348.html
SOURCE Mile Auto
Home insurance canceled or not renewed? Beware of force-placed coverage
SafeAuto Partners with Hugo to Offer Cost-Effective, Pay-as-You-Go Car Insurance
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News