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.
1 in 10 UK kids spending more than 50 hours per week watching TV, playing video games or interacting with a smartphone according to the findings of a report conducted by Care.com
“Free-from” food-to-go startup Pollen + Grace to launch into national supermarkets Tesco and Co-Op, continuing its mission to bring exciting healthy meals to the high street.
Skyports - The drone focused startup that is creating end to end cargo and passenger drone delivery solutions
Bristol and Bath based early-stage startups and entrepreneurs take note - here's the lowdown on key startup support and help available where you are...
Artificial intelligence platform Ricochet is on an AI mission to find new business leads that fit the needs of your company.
From understanding more about how a business can invoice effectively to avoid late payments, to what debt recovery means, to how to take legal action against overdue debt.
For businesses, where getting maximum return on their investment is the name of the game, detecting the next big thing in its infancy is crucial.
If you’re counting on receiving a payment, days or even months after the due date, it’s time to take action. Here's some handy tips for dealing with late payments.
The challenges of working with a business partner or another co-founder, as told by 12 of the UK’s top startup co-founders
Published on: 3rd July 2017
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- 1 in 10 UK kids spend more than 50 hours a week in front of a screen 20th Feb 2019 1 in 10 UK kids spending more than 50 hours per week watching TV, playing video games or interacting with a smartphone according to the findings of a report conducted by Care.com
- Startup Weekend Dublin immigration aims to builds ideas not borders 7th Feb 2019 Migrants are gonna surround us, With ideas! We take a look at Startup Weekend Dublin immigration...
- Sports facility management platform Pitchbooking nets £250k investment 6th Feb 2019 SportTech Belfast startup Pitchbooking, secures £250k investment to help become the market leader in sports facility management.
- Too Good To Go raises further €6m to keep fighting food waste everywhere 6th Feb 2019 Fast growing tech for good app Too Good To Go raises a further €6 million to accelerate its mission to eliminate food waste globally, taking its total investment to €16m.
