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 […]
Root Insurance Selects Tractable AI To Streamline Claims Operations
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 […]
Root Auto Insurance Enters Kansas
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 […]
Root Insurance Now Available in 31 States with Entry into Wisconsin
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 […]
Root Insurance Parent Files for Proposed Initial Public Offering
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 […]
LexisNexis Launches Telematics OnDemand with Root Insurance
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 […]