By Miles on the road to startup success with their pay-per-mile car insurance service
by Startacus Admin
If there’s one business sector that is ripe for disruption - it’s car insurance (although this is perhaps more a personal desire, rather than one based on stats)!
Park that thought however, whilst we introduce you to By Miles - an insurtech startup which is all set to launch a pay-per-mile car insurance service at some point this year.
This is what the By Miles team have to say about their offering via their website:
“With traditional car insurers, if you drive less than the average motorist, you end up subsidising the premiums of higher mileage drivers. We don't think that's fair. We do it differently. After our monthly subscription to cover your car when it’s parked, we’ll only charge you for the exact number of miles you drive.”
This potentially fairer and more transparent service offers a free ‘Miles Tracker’ which can be placed under a car's dashboard and based on driving distance will simply know how much to charge a user. Simples!
We are not entirely sure if this is an industry first - but it seems they are on track for a good 2017, with the very recent news that they have bagged a funding round of £350,000 via Hambro Perks and InMotion.
With this investment therefore it seems we won’t have long to wait before the traditional car insurance industry gets a shunt in the rear and a competitive alternative steps up a gear...to the plate... takes to the road…
Anyway. We like it a lot.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
The FinTech startup which is shaking up how personal taxes are done in the UK....
leAD Sports is on the hunt for early-stage SportsTech startups to join their latest 12-week Accelerator program in the heart of Europe’s thriving and vibrant startup ecosystem in Berlin.
The London based startup that's analysing the natural interactions between autonomous systems and people
The startup that's using advanced technologies to transform un-recyclable plastics into virgin quality chemicals...
London-based cyber-security startup PixelPin want to simplify security using image-based authentication to replace passwords.
The InsurTech startup which covers the risk of non payment of invoices...
AO, the UK’s leading online-only household appliance and electrical retailer is looking discover and integrate startups with solutions that will help AO’s customers.
.jpeg)
Technology has transformed how people interact. We are on the cusp of an exciting new era in clinical communication, and a key shift in the empowerment of patients as a stakeholder in healthcare.
Exercise made fun thanks to this location-based strategy game for runners and walkers
The innovative Social Community App that's been created for those living & working with Dyslexia and ADHD...
Published on: 3rd July 2017
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- leAD Sports Accelerator targets a hat trick of successful SportsTech cohorts 23rd Apr 2019 leAD Sports is on the hunt for early-stage SportsTech startups to join their latest 12-week Accelerator program in the heart of Europe’s thriving and vibrant startup ecosystem in Berlin.
- AO launches Innovation Lab to integrate online retail solutions 17th Apr 2019 AO, the UK’s leading online-only household appliance and electrical retailer is looking discover and integrate startups with solutions that will help AO’s customers.
- EDP searching for startups to join the Starter Acceleration Program 8th Apr 2019 EDP, one of Europe's major electricity operators is currently looking for startups for their new EDP Starter Acceleration Program.
- United Utilities launches Innovation Lab 2.0 21st Mar 2019 Leading UK water and wastewater company United Utilities has launched its second accelerator programme to help innovative businesses grow and develop their solutions through a collaborative approach.
