InsurTech Futures: Axa teams up with on-demand motor broker By Miles
Axa UK has partnered with pay-by-mile insurtech start-up By Miles and will underwrite its policies when it goes lives.
Axa has partnered with InsurTech start-up By Miles to underwrite its on-demand motor policies when it officially launches in May.
The broker is set to go live with its first policies and driving app to waiting list members next month.
The product is aimed at motorists that drive infrequently – typically under 7,000 miles a year.
Model
Axa explained that rather than paying an annual premium, drivers pay a lower fixed amount each year to cover their non-driving risks, such as theft and
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