Latest Root Insurance Headlines
All the headlines from our Root Insurance Topic Page, ordered by recency.
Insurtech Root Focused on Embedded Insurance, CEO Says
Mar 8 2022 // While he didn’t say that distribution of Root Insurance products through independent agents was off the table in 2022, the insurtech’s chief executive officer did say during a recent earnings call that the...
BlackRock Agrees to $300M Loan for Root Insurance
Jan 27 2022 // Days after it announced it had to lay off 330 employees due to worsening loss costs, auto insurer Root Insurance has finalized a $300 million term loan from BlackRock Financial Management. The five-year loan will carry an...
Insurtech Root Lays Off 330 Employees as Loss Costs Increase
Jan 24 2022 // Technology company Root Inc., the Columbus, Ohio-based parent company of Root Insurance, announced yesterday that it has laid off approximately 330 team members throughout its business. Co-Founder and CEO Alex Timm in an...
Digital Auto Insurer Root Will Add Independent Agents to Its Distribution
Aug 20 2021 // Digital auto insurer Root saw its loss ratio spike in the 2021 second quarter as higher costs for repairs, used vehicles and miles driven rose above pre-pandemic levels. But the Ohio-based insurer continues to report...
People Moves: Patrick to VP at Root; Omaha National Promotes Aronson, Barnes; Hildebrandt to CEO at Assurex Global
May 12 2021 // Root Inc. Root Inc., the parent company of Root Insurance, has named Christine Patrick vice president, Investor Relations. Patrick comes to Root with more than 10 years of insurance-industry experience, both in investor...
Insurtech Root Hit With Shareholder Lawsuit Alleging Negligence, Omissions in IPO Filing
Mar 24 2021 // With shares of Root Inc. trading at less than 50 percent of the late October 2020 IPO price of $27 per share, the insurtech carrier has been named in a shareholders class action complaint, Carrier Management has...
Startup Auto Insurer Root Reports $363M Loss in 2020; Will Spend to Grow in 2021
Mar 4 2021 // Root Inc.’s second earnings report as a public company reveals that the digital auto insurance startup continues to lose substantial amounts of money but it is generating substantial premium and customer growth...
Startup Auto Insurer Root Raises $724.4 Million in IPO
Oct 28 2020 // Automobile insurance startup Root Inc. sold shares in its initial public offering (IPO) on Tuesday at $27 apiece, above its target range, to raise $724.4 million, the company said. Root, which has $200 million in debt,...
Startup Personal Lines Insurer Root Looking to Raise $604 Million in IPO
Oct 20 2020 // Automobile insurance startup Root Inc. said on Tuesday it plans to raise as much as $604.1 million in its initial public offering on the Nasdaq, the latest in a line of insurers looking to tap the current boom in U.S....
Personal Lines Insurtech Root Files IPO Proposal with SEC
Oct 6 2020 // Root, Inc., the parent company of Root Insurance Co., has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock. The number of shares to be...
McPeak Joins Ohio’s Root as Sr. Deputy General Counsel
Sep 2 2020 // Columbus, Ohio-based Root Inc., the parent company of Root Insurance, has added Julie Mix McPeak, who formerly served as insurance commissioner in both Kentucky and Tennesse, as its senior deputy general counsel, effective...
Root Insurance Hopes Others Join Its Vow to End Use of Credit Scoring
Aug 18 2020 // Root Insurance pledged to eliminate the use of credit scoring from its car insurance pricing model by 2025, a move the insurtech said will help remove bias and discrimination from the process. “Eliminating credit...
Ohio’s Root Insurance Now Offering Homeowners Coverage
Jun 3 2020 // Columbus, Ohio-based insurtech, Root Insurance, has launched Root Home, a homeowners insurance program that is available in 13 states. Root Insurance customers who bundle with new or existing auto policies will save 10% on...
Breckenridge Insurance Services Welcomes Three Established Brokers
Apr 29 2020 // Atlanta, GA, April 29, 2020 — Breckenridge Insurance Services is pleased to welcome Michael Silvestri, Tracey Burmingham, AAI and Vance Root as vice presidents/brokers to the company as part of its expansion plans...
Reavis Named Chief People Officer at Ohio Insurtech Root
Mar 30 2020 // Columbus, Ohio-based Root Inc., the parent company of online insurer Root Insurance, has appointed Annette Reavis as its first chief people officer. Reavis has more than 20 years of human resource and business experience....
Insurtech Root Expands Into Renters Market; Product Launched in 3 States
Nov 14 2019 // Root Insurance, a property casualty insurtech, has launched a streamlined renters insurance designed and personalized for consumers starting at $6 a month. In addition to covering customers’ personal property and...
Root Insurance Raises $350 Million in New Round; Valuation Reaches $3.65 Billion
Sep 9 2019 // Root Insurance, which uses smartphone technology to gauge driver behavior and price policies, said it has raised $350 million in Series E funding. Root has now raised a total of $523 million in funding, with an additional...
Ohio’s Root Insurance Names Rosenthal CFO, Norelli Capital Markets Leader
Aug 19 2019 // Columbus, Ohio-based Root Insurance has appointed Daniel Rosenthal as the company’s new chief financial officer, effective Nov. 11, 2019. Additionally, Root said Lauren Norelli has joined the company as managing...
Mobile Auto Insurer Root Insurance Expands Into California
Aug 12 2019 // Root Insurance, a licensed insurance carrier powered by mobile, has entered California, making it now available to 60% of the U.S. population. Customers can sign up and customize their coverage to immediately see how some...
Root of Brexit Crisis Is that No Good Compromise Exists: Opinion
Apr 3 2019 // The root of the Brexit crisis is not, as you might think, the failure of the hard-Brexit Tories to compromise. Rather, it’s that no good compromise exists. For three years Britain’s politicians have refused to...
