Root Insurance: an insurtech that is growing

Founded in 2015, the startup Root Insurance is now valued at 3.65 billion USD following a fundraising of 350 million USD. Specializing in motor insurance, the American company targets fully mobile and personalized solutions.

Root Insurance assesses the driver's behaviour, during 2 to 3 weeks, via a mobile app installed on his smartphone. It then determines the premium amount from specific parameters. The startup offers preferential rates to "good" drivers. Discounts can be as high as 52% of the standard rate.

Originally based in Columbus, Ohio, Root Insurance continues to expand. It currently operates in 29 American States. In the first half of 2019, the insurtech reported an 824% increase in the number of the underwritten contracts compared to the same period of 2018.