The San Francisco-based car insurer will pay the claims in the cryptocurrency

Metromile, Inc. (NASDAQ: MILE, MILEW) also known as a pay-per-mile car insurer allows clients to pay in cryptocurrency.

The San Francisco-based car insurer will pay the claims in the cryptocurrency

Digital insurance platform Metromile will contribute to the adaptation of cryptocurrencies after it has decided to accept but also pay claims in cryptocurrencies.

This insurance company, which made it to the Nasdaq stock exchange, informed about it through PR, where it stated that through Bitcoin, customers will be able to pay for insurance, but at the same time they will be able to request payments for insurance claims in BTC.

Proof that Metromile is serious about this is also evidenced by the planned investment in BTC in the amount of $ 10 million. In this way, the insurance company wants to adopt the cryptocurrency and secure funds for the payment of insurance claims.

We believe in the transformative potential of blockchain technology. We are still in the early days of realizing how this shift to decentralized finance and cryptocurrency will create enduring advantages in insurance, but we believe that offering bitcoin as an option for premium and claims payments would be an important first step, Metromile Chief Executive Officer Dan Preston

Metromile is a sought-after car insurer because it offers real-time, personalized auto insurance policies by the mile. In this way, it does not rely on approximations that have often caused unfair valuations.

Share Tweet Send
You've successfully subscribed to CCnews24
Great! Next, complete checkout for full access to CCnews24
Welcome back! You've successfully signed in
Success! Your account is fully activated, you now have access to all content.