U.S. Insurtech Root Insurance Announces 2019 Continued Expansion

Root Insurance, an Ohio-based car insurtech company, announced last week plans for continued expansion into additional states in 2019, with a goal to expand its services nationwide by 2020.

As previously reported, Root was founded in 2015 and describes itself as a full-stack automobile insurance company founded on the principle of fundamental fairness. Root notably uses its proprietary mobile app to give drivers customized quotes based primarily on actual driving behavior such as hard brakes, aggressive turns, and mileage driven.

Root reported that over the of 2019 it also expects to increase its workforce by 150% to add more than 350 employees, which will beat initial projections by two years and advances the overall Columbus 2020 Regional Growth Strategy goal to create over 150,000 net new jobs by 2020. While sharing more details about the expansion, Alex Timm, Root Co-Founder and CEO, stated:

“2018 was a big year for Root Insurance – we expanded our coverage in key markets and it’s clear the demand for fairly priced insurance isn’t going away. We’re excited for all we have planned for Root in 2019 as we continue to offer affordable auto insurance to good drivers and reinvent the way customers buy and use insurance.”

Root reported that it expanded its services from 10 to 22 states in 2018 alone. Dan Manges, Root Co-Founder and CTO,  went on to add:

“Growth and state expansion aside, we are keenly focused on evolving our product to meet the needs of tomorrow’s driver. We’re excited to explore more ways we can apply our model to provide fair and accurate coverage.”

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