Making insurance work for customers , not just insurers
“ In the beginning , it ’ s rough . You don ’ t have anybody with you . You know the bank account is going to run dry in a matter of months , not a matter of years ”
As founder and CEO of US insurtech Root , Alex Timm has pioneered a usage-based , mobile-first approach to car insurance and concentrated on making pricing fairer for the customer
S ome entrepreneurs enter the insurance industry cold , with no prior experience whatsoever , and expect to see their bright spark ignite . That wasn ’ t the case for Alex Timm , CEO and Co-Founder of usage-based auto insurer Root , who has set about creating a company that works better for the customer .
In fact , Timm was supremely experienced when he founded Root Insurance in 2015 . A fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries , Timm studied Actuarial Science , Accounting and Mathematics at Drake University in Des Moines , Iowa before working as an Actuarial Exam Review Instructor at his alma mater for just over a year . He moved on to Nationwide , one of the largest insurance companies in the US , holding a series of consultant roles before making the leap and starting Root .
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