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 emailed statement cited pandemic losses as factoring …
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 growth in its premium volume, …
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, sold 26.8 million shares …
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 offered and the price …
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 scores is a major and necessary …
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 homeowners insurance, the company said. The …
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. She previously spent a decade at …
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 liability from accidents, the new Root renters insurance product pays …
Insurtech funding levels, reaching almost $4.4 billion in worldwide funding commitments through three quarters of the year, has already surpassed the 2018 full-year total, Willis Towers Watson announced Wednesday. According to the new Quarterly InsurTech Briefing published by the global …
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 $100 million in …
