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 [4] reported an 824% increase in the number of the underwritten contracts compared to the same period of 2018.