A theme of my writing over the past ten or so years has been the role of data in society. I tend to frame that role anthropologically: How have we adapted to this new element in our society? What tools and social structures have we created in response to its emergence as a currency in our world? How have power structures shifted as a result?
Ever since writing Living Systems and The Information First Company last Fall, I’ve been citing Earnest, the financial services startup, as a poster child for what I mean by an “information-first” company. But earlier this month I met with another perfect exemplar: Metromile, a company that is already upending industrial-age assumptions about what “insurance” should be.**
I’m fascinated by the idea of “potential information” – flows of information that are locked away and unused. Potential information flows live in the imagination of every NewCo – once tapped, they create all manner of new potential value. Metromile is a stellar example of a company that has found a vector into a treasure trove of potential information – the automobile – and is busy turning that information into a new kind of customer experience, one that has the potential to completely retool the utility and value of the insurance business.