This Week in Coverager (week ending 11/27/2020)
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– Metromile going public via SPAC acquisition
Metromile, known for its pay-per-mile feature is an auto insurer that was insurtech before insurtech was part of our lexicon. This past week, Metromile announced that they would become a public company via a SPAC acquisition. We discussed what this means for Metromile and how this positions them in what is becoming a crowded area. Was there pressure on Metromile to move due to market pressures? How will Metromile differentiate and position this as Root, Just Auto, Branch, OEMs (Tesla, GM-Onstar) and legacy insurers all compete in this space? Is low-mileage TAM big enough to justify the investment? Lots of opinions and insights in this episode of This Week in Coverager.