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Lemonade Sells Metromile’s Enterprise Business Solutions Platform to EIS

Lemonade Sells Metromile’s Enterprise Business Solutions Platform to EIS
Lemonade (NYSE: LMND), the insurance company powered by AI and social impact, today announced the close of its divestiture of Metromile’s Enterprise Business Solutions (EBS) to digital insurance platform, EIS.

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EBS was Metromile’s SaaS claims automation and fraud detection platform which it licensed to large insurance carriers.

The all-cash transaction was completed following the close of Lemonade’s acquisition of Metromile last week. Terms of the deal were not disclosed. Keefe, Bruyette & Woods, a Stifel Company, acted as financial advisor in connection to the transaction.

Source: Yahoo Finance

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