Root Inc
NASDAQ:ROOT

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Root Inc
NASDAQ:ROOT
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Price: 72.77 USD 0.44%
Market Cap: 1.1B USD
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Root Inc
Investor Relations

Root Inc., a company that set foot in the insurance landscape with a tech-savvy mindset, has been shaking up the traditional auto insurance industry by leveraging technology and consumer-centric strategies. Founded in 2015, Root's mission was to transform what they saw as an antiquated approach to insurance pricing. They did so by employing a mobile-first model, where potential customers download an app and undertake a test drive to gauge their driving habits. Using telematics, Root collects data during this period to assess the driver’s habits and accordingly offer customized premiums based on actual driving behavior rather than traditional factors such as age or credit score. This innovative approach aims to appeal especially to younger, tech-savvy clients, who appreciate personalization and transparency in their insurance products.

The company’s business model hinges on technology-driven personalization, aiming to underwrite risk more accurately and reward good drivers with lower rates. It generates revenue primarily through the premiums paid for insurance policies. Root has expanded its product portfolio beyond auto insurance, now including renters' and homeowners' insurance to create a comprehensive risk management framework for its clients. Despite facing challenges inherent in the competitive insurance industry, such as market volatility and the financial implications of underwriting risk, Root continues to focus on refining its technology and expanding its user base. Through this, Root endeavors to couple cutting-edge tech with insurance, aiming to carve out a profitable niche while also disrupting traditional industry norms.

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Management

Mr. Alexander Edward Timm
Co-Founder, CEO & Chairman
No Bio Available
Mr. Mahtiyar Bonakdarpour
President & CTO
No Bio Available
Mr. Jonathan Alexander Allison
Chief Administrative Officer
No Bio Available
Ms. Megan Nicole Binkley
Chief Financial Officer
No Bio Available
Mr. Ryan William Forish
Chief Accounting Officer
No Bio Available
Mr. Matthew Patrick LaMalva
Head of Investor Relations
No Bio Available
Jodi Emmert Baker
VP, General Counsel & Secretary
No Bio Available
Ms. Kelly Ruoff
Chief Communications Officer
No Bio Available
Ms. Jill Kellett
Vice President of Product & Marketing
No Bio Available
Katelynn Sandy
Chief Information Security Officer
No Bio Available

Contacts

Address
OHIO
Columbus
80 E Rich St Ste 500
Contacts
+16145914568.0
joinroot.com