Benzinga | Aug 24, 2021 01:29PM EDT

Metromile Integrates Verisk's LightSpeed Auto Platform To Simplify Consumer Experience

* Metromile Inc (NASDAQ:MILE) announced an integration with Verisk Analytics, Inc's (NASDAQ:VRSK) LightSpeed Auto to simplify the consumer buying experience, increase speed to bind and conversion rates, and lower acquisition costs.

* LightSpeed Auto is a digital underwriting platform that combines extensive data resources and predictive analytics from Verisk. It enables insurers to shorten application questionnaires and allows for more than 400 underwriting data elements to be delivered upfront at the point of quote.

* Digital solutions eliminate hidden costs of outdated insurance models; with LightSpeed Auto, underwriting attributes, including data on drivers, vehicles, coverages, licensing, violations, and losses, can now be delivered in real-time and in a single transaction.

* Price Action: VRSK shares are trading lower by 0.21% at $197.10, and MILE higher by 4.29% at $4.26 on the last check Tuesday.