ALEX TIMM

As a technology enterprise, Root Inc focuses on revolutionizing the personal insurance sector. The enterprise has developed a pricing model based on modern customer experience and fairness to achieve the desired results. “We started by tackling the archaic car insurance industry with Root Insurance. Through data and technology, we base rates primarily on how people drive. The result is a more fair, personal, and much simpler experience—thanks to it all being in an app. With the addition of renters and homeowners’ insurance, we provide the convenience of bundling in the app for seamless, affordable coverage,” says Alex Timm, CEO, and Co-founder. Root Inc. radically transforms an industry for businesses and consumers with its technologically advanced products. Root protects its client’s security through Security Root via continued IT training, openness, and documentation. In addition, external Security researchers are encouraged to alert us to any possible security dangers they find by using our vulnerability disclosure policy, which also provides a safe harbor. Root appreciates the significance of protecting customers’ personal information and takes this purpose exceptionally seriously because the firm was founded on the power of data and technology.

As a result, Root never sells customers’ personally identifiable information. Instead, sensitive data is stored in an encrypted environment and transferred and received using encryption. “Root exists to create more appropriate and more affordable insurance. We leverage modern technology and data science to create seamless customer experiences. But we don’t stop there. Our mission to revamp the insurance industry revolves around identifying what’s broken and committing to creating positive and impactful change across our industry, our communities, and the world,” adds the CEO. Root offers drivers reasonable pricing based on how they drive, not who they are, using telematics. Driving behavior is the most critical component in a Root rating. Root Inc never takes things like education or career into account.

HERE ARE SOME OF THE CRITICAL ASPECTS OF ROOT INC

“Traditional car insurance companies focus on demographics like age, ZIP code, occupation, and credit score to price your coverage. We don’t think that’s fair. When we offer a rate, your behavior behind the wheel gets more weight than any other factor. We’ve never used occupation or education level in our rates—and what’s more, we’re committed to removing credit scores from our pricing entirely by 2025. With Root, the safer you drive, the more you could save,” adds the CEO.

The firm enables significant savings per year, the average being $900/ per year. Filing an insurance claim is possible within about 3 minutes. The Root app by the firm makes it easier to manage insurance policies. Every policy by the firm enables roadside assistance. Root makes car insurance hassle-free by explaining what coverage is required in each state and which are optional. The Root app uses the sensors on clients’ smartphones to collect and analyze data while driving. “Drive with the Root app. While you drive, we gather and analyze data from your smartphone’s sensors. Then, after a few weeks, you can get a car insurance quote based primarily on how you drive,” says Timm.