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DALLAS - (BUSINESS WIRE) - Nov. 26, 2007 -- MileMeter, Inc. today announced that it has been chosen as a finalist for the Amazon Web Services Start-Up Challenge. Amazon Web Services (AWS) is searching for the next hot start-up that is leveraging AWS to build its infrastructure and business. The winner will receive an investment offer from Amazon, along with $50,000 in cash and $50,000 in AWS credits. MileMeter was chosen from over 900 contestants and will be presenting its innovative insurance product to Amazon management and venture capitalists on December 6 in Seattle for the final contest round.
MileMeter will offer "auto insurance buy the mile," so people who drive less pay less for insurance. Customers will buy miles in advance and renew as needed - without vehicle tracking devices. By rewarding reduced driving with lower insurance costs, insurance by the mile has the potential to reduce environmental impact and to make insurance both more fair and affordable.
"Selection by a leader of innovation like Amazon validates our efforts to deliver auto insurance that makes sense," said Chris Gay, CEO and founder of MileMeter. "The established insurance industry fears the changes that MileMeter represents. With State Approval in place for the last 7 months, the time has arrived for our fully developed product."
Using Amazon Web Services, MileMeter will have a scalable technology infrastructure to expand as their business grows. "With both MileMeter and AWS, you only pay for what you use. Our businesses are a natural fit since we both use utility pricing," said Chris Gay. "We look forward to working with Amazon Web Services."
Based in Dallas, TX, the company has developed the necessary processes, forms, rates, software systems, and received regulatory approval in Texas. MileMeter's novel methods and system are Patent Pending.
For more information, please visit http://milemeter.com and the AWS announcement at http://aws.amazon.com/startupchallenge.
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© 2007 MileMeter, Inc. The MileMeter name, logo and “Auto insurance by the mile” are trademarks of MileMeter, Inc. Methods and system are Patent Pending.