Trade Root Inc/OH - ROOT CFD

Root, Inc. Company profile

About Root Inc

Root, Inc. is a holding company. The Company, through Root Insurance Company and Root Property & Casualty Insurance Company, operates as an insurance company. The Company is a direct-to-consumer personal auto insurance, renter's insurance and mobile technology company. The Company has the infrastructure to design products, and distribute, underwrite, administer and pay claims on all its policies. The Company, by collecting and synthesizing sensory behavioral data across various driving variables, including distracted driving, it prices policies based more on causality than correlation. It uses telematics, mobile technology and its digital platform to collect data points that it evaluates in pricing and underwriting certain of its insurance policies, managing claims and customer support. It acquires customers directly through multiple channels, including digital, strategic partnerships, channel media and referrals.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Root Inc revenues decreased less than 1% to $345.4M. Net loss increased 44% to $521.1M. Revenues reflect Investment Income - Gross increase of 24% to $7.3M, also reflect Investment Expense decrease from -$500K to -$2.3M. Higher net loss reflects Selling/General/Admin Expense increase of 93% to $270.2M (expense), General and administrative increase of 24% to $97.6M (expense).