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.
Some tips and advice on what companies should do and how they can differentiate their service for verified and unverified customers
Mountain Technologies, the innovative Northern Ireland-based startup secures investment to launch and market its connected ski pass system
Here are five tips to help build a framework that allows you to be more innovative and add creativity when editing your videos...
Skrap is an innovative PropTech startup that offers on-demand construction hire services to construction companies
FindBakers is an online platform and marketplace that lets local bakers sell their tasty bakes & treats directly to customers
Kidadl is an online platform and app that aims to bring you unique activity inspiration every day, all personalised to the ages and interests of your kids
Got a startup that can offer innovative solutions for the logistics sector? The third edition of Wincanton's innovation programme W² Labs is now open for entries
.jpeg)
If you are an entrepreneur or operate a small business, then you may be looking for ways to build upon your success and grow your business into an empire. Here we are going to look at five simple ways to do just that!
No matter what type of company you have, ensuring product quality is essential. Here are some ways in which you can do just that.
If you're running a business, here are some essential tips & warning signs that you should know about when it comes to your water requirements
Published on: 3rd July 2017
.png)
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Logistics and Warehousing Focused Startups Wanted for Wincanton Innovation Lab 16th Sep 2020 Got a startup that can offer innovative solutions for the logistics sector? The third edition of Wincanton's innovation programme W² Labs is now open for entries
- NI startups to compete for £75k grant to develop innovative port technology 14th Sep 2020 NI startups will have the chance to win a £75,000 proof of concept grant as part of a new competition launched by Techstart Ventures and Belfast Harbour, with support from BT.
- Unique COVID-19 stimulus initiative launched in Jersey 10th Sep 2020 PFS, leading player in the FinTech ecosystem supports the World's First COVID-19 Stimulus Payments Programme of its Kind in Jersey
- Catalyst's Co-Founders Programme strengthens NW innovation sector 8th Sep 2020 Five of the participating teams from NI-based Catalyst's Co-Founders programme have been successful in securing £10,000 of Innovate UK funding
