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You are here: Home / Archives for Root Insurance

Root Insurance Expands Relationship with CCC to First-Party Casualty

February 16, 2023 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: Agreements Signed, CCC, Root Insurance

Root Insurance Investigating $9.5 Million in Marketing Payments by Former Employee

January 6, 2023 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: Fraud, Root Insurance

Root Insurance Expands to Alabama and Florida

May 18, 2022 By CollisionWeek Editor

Root, Inc. (NASDAQ:ROOT), a technology company powering insurance solutions and the parent company of Root Insurance, has launched in Alabama and Florida, the 33rd and 34th states where Root auto insurance is now available. With the addition of these two new states, Root Insurance is now available to 76% of the U.S. population. “We’re excited […]

Filed Under: News Tagged With: Alabama, Florida, Openings, Root Insurance

Root Insurance Selects Tractable AI To Streamline Claims Operations

January 7, 2022 By CollisionWeek Editor

Root Insurance will use artificial intelligence (AI) to streamline and accelerate its claims operations using Tractable’s suite of AI solutions. Root will launch the partnership with the AI Subro solution from Tractable to enable Root to assess and respond to subrogation demands more accurately and efficiently. After testing market solutions head-to-head, Root chose Tractable, which […]

Filed Under: News Tagged With: Agreements Signed, Artificial Intelligence, Claims Technology, Root Insurance, Tractable

Root Auto Insurance Enters Kansas

December 14, 2021 By CollisionWeek Editor

Root, Inc. (NASDAQ:ROOT) announced that Root Insurance has launched in Kansas, the 32nd state where Root auto insurance is now available. The more than 2 million registered drivers in Kansas now have access to fair insurance rates through the Root app. In June, Root entered the Wisconsin market. “Root’s accessible and fair rates are the […]

Filed Under: News Tagged With: Kansas, Openings, Root Insurance

Root Insurance Now Available in 31 States with Entry into Wisconsin

June 7, 2021 By CollisionWeek Editor

Root, Inc. (NASDAQ:ROOT), the parent company of Root Insurance Company, announced its entry into Wisconsin. Root is now available to the 4.3 million drivers in Wisconsin, making it the company’s 31st state. Root Insurance is founded on the power of data. The insurance innovator is committed to unbreaking an archaic industry using modern, mobile-first technology […]

Filed Under: News Tagged With: Root Insurance, Wisconsin

Root Insurance Parent Files for Proposed Initial Public Offering

October 6, 2020 By CollisionWeek Editor

Root, Inc., the parent company of Root Insurance Company, announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to the proposed public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not […]

Filed Under: News Tagged With: IPOs, Root Insurance

LexisNexis Launches Telematics OnDemand with Root Insurance

July 27, 2020 By CollisionWeek Editor

LexisNexis Risk Solutions launched LexisNexis Telematics OnDemand, a solution that seamlessly integrates telematics-based driving behavior data into insurer rating and underwriting workflows. Root Insurance is the first to adopt Telematics OnDemand. The solution enables U.S. auto insurers to access a consumer’s existing telematics data in near-real time at point of quote in order to more […]

Filed Under: News Tagged With: Agreements Signed, LexisNexis Risk Solutions, Root Insurance, Telematics, Usage-Based Insurance

Root Insurance Raises $350 Million in Latest Funding Round

September 11, 2019 By CollisionWeek Editor

Root Insurance announced it raised $350 million in Series E funding. Root has now raised a total of $523 million in funding, with an additional $100 million in debt financing. This latest round, led by DST Global and Coatue, raises Root’s valuation to $3.65 billion and provides additional capital to accelerate growth in existing markets […]

Filed Under: News Tagged With: Private Equity, Root Insurance

Root Insurance Enters California

August 8, 2019 By CollisionWeek Editor

Root Insurance announced its entry into California. According to the company its auto insurance is now available to 60% of the U.S. population. Californians will be able to sign up for Root’s insurance through the Root Insurance app or the website. To get their rate, drivers simply estimate their annual mileage and submit their information. […]

Filed Under: News Tagged With: California, Root Insurance

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