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SHARE-BASED COMPENSATION (Tables) | 6 Months Ended
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Jun. 30, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of share-based compensation expense | The following table displays share-based compensation expense recorded in the condensed consolidated statements of operations and comprehensive loss:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
| (dollars in millions)
Share-based compensation expense: |  |  |  |  |  |  |
Loss and loss adjustment expenses | $ | 0.5 |  |  | $ | — |  |  | $ | 0.6 |  |  | $ | 0.5 |
Sales and marketing | 0.2 |  |  | — |  |  | 0.2 |  |  | 1.0 |
Other insurance expense | 0.4 |  |  | — |  |  | 0.5 |  |  | 0.9 |
Technology and development | 1.5 |  |  | 0.2 |  |  | 1.8 |  |  | 5.3 |
General and administrative | 2.3 |  |  | 0.3 |  |  | 4.1 |  |  | 18.5 |
Total share-based compensation expense | $ | 4.9 |  |  | $ | 0.5 |  |  | $ | 7.2 |  |  | $ | 26.2 |
The following table provides total share-based compensation expense by type of award:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
| (dollars in millions)
Share-based compensation expense: |  |  |  |  |  |  |
Restricted stock unit expense | $ | 4.2 |  |  | $ | — |  |  | $ | 4.8 |  |  | $ | — |
Stock option expense | 0.7 |  |  | 0.5 |  |  | 2.4 |  |  | 26.2 |
Total share-based compensation expense | $ | 4.9 |  |  | $ | 0.5 |  |  | $ | 7.2 |  |  | $ | 26.2 |
Summary of RSU activity | A summary of RSU activity for the six months ended June 30, 2021 is as follows:
|  | Six Months Ended June 30, 2021
Restricted Stock Units |  | Number of Shares |  | Weighted-Average Grant Date Fair Value per Share |  | Aggregate Intrinsic Value
|  | (in millions, except per share amounts)
Nonvested at January 1, 2021 |  | 0.4 |  |  | $ | 18.41 |  |  | $ | 6.2 |
Granted |  | 5.8 |  |  | 11.55 |  |  |
Vested |  | — |  |  | 16.88 |  |  | 0.4 |
Forfeited, expired or canceled |  | (0.2) |  |  | 12.34 |  |  |
Nonvested at June 30, 2021 |  | 6.0 |  |  | $ | 11.96 |  |  | $ | 64.6 |
Summary of option activity | A summary of option activity for the six months ended June 30, 2021 is as follows:
| Six Months Ended June 30, 2021
Options | Number of Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term (in Years) |  | Aggregate Intrinsic Value
| (in millions, except exercise price and term amounts)
Outstanding and exercisable at January 1, 2021 | 10.4 |  |  | $ | 2.39 |  |  | 7.75 |  | $ | 137.7 |
Granted | — |  |  | 10.82 |  |  |  |  |
Exercised | (2.3) |  |  | 1.83 |  |  |  |  | 23.3 |
Forfeited, expired or canceled | (0.7) |  |  | 4.62 |  |  |  |  |
Outstanding and exercisable at June 30, 2021 | 7.4 |  |  | $ | 2.44 |  |  | 7.22 |  | $ | 61.8 |

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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