Metromile \USA

Step 2 - Validation and Actuarial Refinement: Expand to 10,000 workers across 3 platforms (delivery, rideshare, micromobility). Use 6 months of claims data to train AI risk models: predict accident likelihood based on time of day, route density, weather, and driving behavior (hard braking, speeding). Integrate LLM-powered claims triage to reduce processing time from 7 days to 24 hours. Achieve 70% loss ratio and prove CAC payback within 4 months (via platform revenue share, not direct marketing). Secure Series A ($3M) to expand to 5 states and hire actuarial team. Timeline: 12 months.

Step 3 - Platform Expansion and API Productization: Launch self-serve API for mid-sized gig platforms (100K+ workers) to integrate MileShift in 2 weeks. Build Stripe-like developer experience: sandbox environment, webhooks for policy events, embeddable UI components for in-app insurance enrollment. Expand to 10 states and 100K covered workers. Negotiate revenue share with platforms (they take 5%, MileShift takes 15%, carrier takes 80% of premiums). Launch data licensing product: sell anonymized risk insights to platforms for driver safety scoring and fleet optimization. Achieve $10M ARR, 65% loss ratio. Raise Series B ($15M) for national expansion. Timeline: 18 months.

Step 4 - Moat via Vertical Integration and Reinsurance: Transition from MGA to licensed carrier in 3-5 high-volume states (CA, TX, FL) to capture full underwriting profit (not just take rate). Partner with reinsurers (Munich Re, Swiss Re) to offload tail risk while retaining data ownership. Launch adjacent products: commercial auto for small fleets, micro-insurance for e-bikes/scooters, embedded coverage for EV charging networks. Build proprietary actuarial models using 5+ years of gig worker data that incumbents cannot replicate. Achieve $100M ARR, 60% loss ratio, and become the default insurance layer for the gig economy. Exit via acquisition by a major insurer (Allstate, Progressive) or IPO at $1B+ valuation. Timeline: 36+ months.