Root News
P/C InsurTech Funding Reaches $4.7B Record In 2020 (Story In Charts)
After a slow start in 2020, InsurTech funding reached a record level of $7.1 billion for the year, with $4.7 billion earmarked for property/casualty startups, according to a quarterly tracker of ...
Root Loses $85M, Secures P/C Shell Company for Further Growth
Root lost more than $85 million in its 2020 third quarter – its first as a public company following an initial public offering in October that raised $724.4 million. The Ohio-based digital auto ...
Root Raises $724.4M, an IPO Victory for the Auto Insurance Startup
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 ...
InsurTech Root Plans to Raise Up to $604M in IPO
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 ...
Root Becomes Latest InsurTech to File IPO Plans
Digital Insurer Root Inc. has filed plans with the U.S. Securities and Exchange Commission for a proposed IPO. Details of the company's initial public offering will be fleshed out down the line. The ...
Root Hires Former Tennessee Insurance Commissioner McPeak as Expansion Continues
Former Tennessee insurance commissioner Julie Mix McPeak has joined Root Insurance in a leadership role. She is the Ohio-based InsurTech's Senior Deputy General Counsel as of Sept. 1. McPeak is well ...
Citing Social Justice, Root Pledges to End Credit Scoring for Auto Insurance Pricing
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. ...
Pandemic Reinforces Innovation Culture at Root
In many respects, we unintentionally built Root to weather situations like the COVID-19 pandemic. We have always been fueled by our passion for identifying what's not working and rolling up our ...