InsurTech Startup Root Insurance Expanding its Revolutionary Platform Across the United States
Good drivers in
Unlike traditional insurers, who solely rely on demographic data, such as age, credit score and zip code to calculate their rates, Root takes a more personalized approach. By leveraging mobile tools and data analysis to review drivers' driving behavior and complement existing personal data, Root can set individual rates that are ultimately fairer to drivers.
“Technology is making almost every aspect of our daily lives easier, but the insurance industry is still too far behind the tech curve,” said Root Co-founder and CEO
To join Root, customers download Root’s iOS or Android app and drive for two to three weeks. Their driving behavior is then analyzed through a proprietary rating engine, which measures activity, such as acceleration, braking, turns and mileage. This process enables Root to understand the individual risk of each driver. Good drivers then receive their quote and manage their policy entirely through Root’s smartphone app.
In addition to offering a unique insurance platform, Root recently became the first car insurance carrier to offer a discount to drivers of self-driving cars, currently available to Tesla owners.
“Technology is transforming the automotive industry—and new semi-autonomous and autonomous features are making the road safer for everyone,” said
Root is available today to drivers in
About Root:
Root is the first insurance company founded on the principle of fundamental fairness. We create personalized products that give good drivers the protection they deserve.
At Root, we only insure good drivers, and that is why our rates are always fair. Unlike other insurance companies, we do not bundle good drivers with bad drivers. Instead, we use data science to find and reward good drivers with the best rates.
Root is headquartered in
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