Lemonade sells Metromile Enterprise to EIS

Lemonade has sold Metromile Enterprise Business Solutions to EIS, the companies announced this morning. Full terms of the all-cash deal were not disclosed.

Metromile Enterprise was created in 2018. It launched to the market in 2020 to license out some of the insurance-side's AI software, especially around claims, the unit's general manager, Amrit Singh, told Digital Insurance last year. Singh left Metromile for Eclipse Venture Partners in January 2022, according to their LinkedIn profile. Its clients have included Tokio Marine and Toggle, a unit of Farmers Insurance.

After losing the Metromile acquisition last week, Lemonade confirmed layoffs of about 20% of its staff.

EIS, the buyer of the enterprise unit, served as the claims automation and fraud detection platform for Metromile Enterprise, it said in its statement announcing the buy.