Metromile Names Regi Vengalil Chief Financial Officer
April 22 2021 - 8:00AM
Metromile, Inc. (NASDAQ: MILE, MILEW), a leading digital insurance
platform and pay-per-mile auto insurer, today announced Regi
Vengalil will join the company as Chief Financial Officer on May
24, 2021.
Vengalil will be responsible for Metromile’s
financial management, including financial planning and operations,
treasury, investor relations, reinsurance and corporate
development. He will play a critical role in advancing Metromile’s
continued growth strategies and focus on ensuring the strength of
the company’s balance sheet and delivering sustainable and
profitable unit economics.
“Regi has an impressive track record as a
financial steward, corporate development strategist and operations
executive. With his financial expertise and leadership, we are
primed to enhance our unit-economic advantage and rapidly scale our
business,” said Metromile Chief Executive Officer Dan Preston.
“As a Metromile customer for six years, I have
experienced firsthand the value Metromile can bring to drivers
through fairer prices, fast claims resolution and a better
experience. Dan and the team have made insurance real-time,
individualized and fairer, and they are working to build a more
engaging and profitable insurance enterprise,” said Vengalil. “I am
eager to help Metromile expand its mass appeal and further position
us to rapidly and profitably grow our business and deliver
long-term shareholder value.”
Vengalil most recently served as CFO of Egencia,
Expedia Group’s (NASDAQ: EXPE) corporate travel division, where he
led the global finance team of more than 100 professionals and was
responsible for the division’s financial planning and operations,
controllership and commercial finance. Before becoming CFO of
Egencia, he also served as a member of Expedia Group’s executive
team as global head of corporate development and strategy.
Before joining Expedia Group, he was head of
strategy, mergers and acquisitions, and business operations at
LendingClub (NYSE: LC). Earlier in his career, he led teams
advising financial services and travel firms on growth strategies
at McKinsey & Company. He is also currently a member of the
board of directors of Porch Group (NASDAQ: PRCH), a home services
vertical software company.
Vengalil holds a master of business
administration and bachelor of science in economics; both earned
with honors from the Wharton School of the University of
Pennsylvania.
About MetromileMetromile
(NASDAQ: MILE, MILEW) is a leading digital insurance platform in
the United States. With data science as its foundation, Metromile
offers real-time, personalized auto insurance policies by the mile
instead of the industry’s reliance on approximations that have
historically made prices unfair. Metromile’s digitally native
offering is built around the modern driver’s needs, featuring
automated claims, complimentary smart driving features and annual
average savings of 47% over what they were paying their previous
auto insurer.
In addition, through Metromile Enterprise, it
licenses its technology platform to insurance companies around the
world. This cloud-based software as a service enables carriers to
operate with greater efficiency, automate claims to expedite
resolution, reduce losses associated with fraud, and unlock the
productivity of employees.
For more information about Metromile, visit
www.metromile.com and
enterprise.metromile.com.
Contacts
Investor Relations
Garrett Edson,
ICRir@metromile.com646-677-1889
Public Relations
Rick Chen,
Metromilepress@metromile.com415-676-7744
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ebd8d0d5-51f5-4e0e-a6b8-828081b9876f
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