All the headlines from our Root Topic Page, ordered by recency.
Sep 16 2022 // At a time when auto insurers react to inflation shocks by filing rate increases at a frenetic pace, an insurtech CEO says automation of the activity is speeding his company’s actuarial rate indications onto...
Jun 6 2022 // Verisk Names Mourad President of ClaimsInsurance data analytics firm Verisk announced that Maroun Mourad will begin serving as president, Claims Solutions, on July 1, succeeding Rich Della Rocca who is retiring. In his...
Mar 23 2022 // Root, Inc. has hired Rob Bateman as its new chief financial officer, effective April 11.Bateman joins Columbus, Ohio-based Root as CFO with over two decades of broad strategic, financial and operational experience across...
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...
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...
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...
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 growth...
May 12 2021 // 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 relations...
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...
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...
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, sold...
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....
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...
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...
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...
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...
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...
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....
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...
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...