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.
A multi-state coalition of insurance commissioners issued a joint letter to the Department of Government Efficiency advising the closure of the Federal Insurance Office.
Liberty Mutual is working with a financial adviser on the potential disposal, which could help it raise a few hundred million dollars, the people said, asking not to be identified because the deliberations are private.
Experts from HUB International reveal their outlook for employee benefits in 2025, from healthcare to AI.
Next year is anticipated to be a defining moment for the extensive adoption of automation and AI in the insurance sector.
Insurance innovation insights from eight years of the Qorus-Accenture Innovation in Insurance Awards.
For the third time in five years, the Office of the Comptroller of the Currency issued an enforcement action against the beleaguered bank. It bars USAA from adding new products or loosening its membership criteria without evaluating the risks of getting bigger.
