Root Inc. (NASDAQ: ROOT) has extended its exclusive embedded insurance partnership with online used-vehicle retailer Carvana Co. (NYSE: CVNA) to at least August 2028, the companies announced Sept. 1. The program has sold more than 200,000 policies since launching in 2022. The product, Carvana Insurance Built with Root, places an auto insurance quote inside Carvana’s […]
Root Cuts Florida Auto Insurance Base Rates 15% for 52,000 Policyholders
Root Inc. (NASDAQ: ROOT) has cut base auto insurance rates in Florida by 15%, a reduction the Columbus, Ohio-based telematics insurer said Aug. 27 will lower premiums for nearly all of the more than 52,000 policyholders it covers in the state. Eligible customers will save about $400 a year on average, or roughly $21 million […]
Root Launches Behavior-Based Auto Insurance in New Jersey, Its 37th State
Root Inc. (NASDAQ: ROOT) has begun selling its telematics-based auto insurance in New Jersey, the 37th state where the Columbus, Ohio-based insurer operates and a step that extends its coverage to more than 80% of the U.S. population. The launch moves Root toward its stated goal of offering coverage across the entire contiguous U.S. by […]
Root Joins Freeway Insurance Multi-Carrier Platform in National Distribution Deal
Root Inc. (NASDAQ: ROOT), the telematics-based auto insurer, has joined Freeway Insurance’s multi-carrier marketplace, the companies announced April 23, giving the Columbus-based carrier access to Freeway’s national network of retail offices, call centers and online shopping channels. Freeway, a personal lines distribution platform owned by Confie since 2008, was founded in 1987 and promotes a […]
Root Insurance Launches in Washington State, Completes West Coast Expansion
Root Insurance Co. (NASDAQ: ROOT) announced Tuesday that it is now offering auto insurance in Washington state, completing the company’s expansion across the West Coast. The technology-focused insurance carrier now serves customers in Washington, Oregon and California, reaching what the company says is more than 78% of the U.S. population. “With this expansion into Washington, […]
Hyundai and Root Inc. Announce Partnership in Auto Finance and Insurance Industries
Root, Inc. (NASDAQ: ROOT), the parent company of Root Insurance Company, and Hyundai Capital America (HCA) announced a strategic partnership to bring innovative auto finance and insurance solutions and enhanced experiences to HCA customers. The collaboration is expected to deliver insurance solutions that offer data-driven, competitive rates to HCA customers, driving a more connected experience […]
Root Insurance Expands Auto Insurance to Minnesota
Root, Inc. (NASDAQ: ROOT) announced the availability of Root Insurance in Minnesota. The insurer now serves drivers in 35 states, extending its auto insurance product availability to over 4 million registered drivers in Minnesota and covering more than 77% of the U.S. population. “We’re excited to bring an easy, technology-driven, car insurance option to Minnesota, […]
Former Root Insurance Exec Pleads Guilty to Defrauding Company of More Than $10 Million
Defendant used stolen funds to buy a yacht, amphibious plane, and luxury vehicle. Brinson Caleb Silver, 43, the former Chief Marketing Officer of Root, Inc., the online car insurance company, pleaded guilty in a U.S. District Court in Ohio on November 28 to one count each of wire fraud and contempt of court. As part […]
Root Insurance Expands Relationship with CCC to First-Party Casualty
CCC Intelligent Solutions Inc. (NASDAQ:CCCS) today announced Root Insurance will extend the use of CCC technology to include its first-party casualty solution. With the addition of CCC First-Party Casualty, Root can now manage auto physical damage and first- and third-party casualty claims through a single digital workflow, powered by CCC. The CCC First-Party Casualty solution […]
Root Insurance Investigating $9.5 Million in Marketing Payments by Former Employee
In a filing with the Securities and Exchange Commission, Root Inc. (NASDAQ: ROOT), the parent company of Root Insurance, announced the Audit, Risk and Finance Committee of its Board of Directors has engaged outside counsel to conduct an internal investigation into a series of marketing services transactions that a former senior marketing employee entered into […]