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 […]
Root Insurance Raises $350 Million in Latest Funding Round
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 […]
Root Insurance Enters California
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. […]
Root Insurance Raises $100 Million Funding, Enters Oregon Auto Insurance Market
Root Insurance, the car insurance company that incorporates individual driving behavior in every quote, announced yesterday $100 million in Series D funding. This latest round, led by Tiger Global Management, raises Root’s valuation to $1 billion and provides additional capital to deepen penetration in existing markets, expand into new states, and fuel hiring plans, with […]
Root Insurance Expands Into Maryland, North Dakota
Root Insurance announced that it is now available vehicle owners in both Maryland and North Dakota. The company, that recently announced an expanded staff presence at its headquarters in Columbus, Ohio, plans to offer coverage nationwide by 2019. Root uses smartphone technology and data science to understand actual driving behavior, the primary factor in determining […]
Root Insurance Announces Expansion in Ohio
Auto insurance company commits to quintuple workforce by 2021. Root Insurance announced plans to significantly expand its presence in Columbus. The auto insurance company will move its offices to a new, 65,000-square-foot space in downtown Columbus and will invest approximately $2 million to build out and equip the new location. The company also announced that […]