SAN FRANCISCO, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Metromile, Inc. (NASDAQ: MILE, MILEW), a leading digital insurance platform and pay-per-mile auto insurer, today announced two seasoned insurance and finance executives are joining its board of directors. John Butler, a managing director of Cohen & Company Inc. (NYSE American: COHN), is joining effective August 4. Sandra Clarke, CFO of Blue Shield of California, will join as a board director effective August 31.
Butler, head of Cohen & Company’s U.S. insurance asset management platform, is a 25-year insurance executive with deep global experience. Prior to joining Cohen & Company, Butler oversaw the investment of $4 billion principally in fixed income and insurance-linked securities at Twelve Capital, a European asset manager specializing in investment in the insurance sector.
“I have been fortunate to work with many insurance companies throughout my career, and I have not seen a company like Metromile. I feel honored to join Metromile’s board of directors and help contribute to the strong foundation Dan, Dave and the team have already put in place to build a disciplined generational company,” said Butler.
Clarke has more than 25 years of experience directing worldwide financial organizations in insurance and other highly regulated, critical industries. Before joining Blue Shield of California, Clarke held senior finance roles at Daiichi Sankyo, Philips Healthcare and Siemens Water Technologies.
On August 31, 2021, Butler will assume the non-executive chairman role, succeeding David Friedberg, CEO of The Production Board and Metromile founder, who served in the position for more than 10 years. Friedberg will remain a member of the Metromile board of directors. The company also announced that Betsy Z. Cohen stepped down from the board of directors.
“Betsy, along with the entire Cohen & Company team, has been instrumental in our transition to a public company. We thank her for invaluable support and guidance this past year,” said Metromile CEO Dan Preston. “As part of our relationship with Cohen & Company, we have come to know John very well and have greatly benefited from his years of insurance industry experience. We are thrilled he is joining the Board.”
Preston continued: “I am equally excited about Sandra’s appointment. She is a proven financial steward with years of experience at public companies, and she will be a strong addition to our Board.”
“John is an incredible operator and investor with extensive insurance relationships around the world,” said Friedberg. “I would be hard-pressed to find a better fit than John to take the reins as non-executive chairman, and I look forward to serving alongside him.”
Preston; Ryan Graves, the founder and CEO of Saltwater and former senior vice president, global operations of Uber Technologies, Inc.; Colin Bryant, an operating partner of venture capital firm of New Enterprise Associates, Inc.; and Vikas Singhal, a partner of Hudson Structured Capital Management Ltd., are also on Metromile’s board of directors.
Metromile (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 product is built for 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.
Metromile Investor Relations
Metromile Public Relations
Photos accompanying this announcement are available at:
© 2021 GlobeNewswire, Inc. All Rights Reserved.