ROOT INSURANCE
TOP 10 – INSURANCE PRODUCTS OF 2024
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ROOT INSURANCE
REVENUE : US $ 318m EMPLOYEES : 700 + CEO : ALEX TIMM FOUNDED : 2015
Root Insurance is a technology-centric insurance company that aims to make car insurance more affordable by using data and technology to assess individual driving behaviours . Founded in 2015 , Root uses a mobile app to track driving habits such as braking , speed , turns , and the time of day driving occurs . This allows the company to tailor insurance premiums to the actual risk posed by each driver , rewarding safe drivers with lower rates .
Unlike traditional insurance providers , Root relies on telematics and AI to create a more personalised and fair pricing model . The app-based approach simplifies the signup process and provides a convenient way for customers to manage their policies , file claims , and receive customer support . Root also offers homeowners and renters insurance , allowing customers to bundle their policies . Root has quickly gained popularity for its transparency , user-friendly app , and data-driven approach to insurance , challenging the conventional insurance industry model . More information can be found on their official website . insurtechdigital . com 61