Root Insurance Partners with Goosehead Insurance to Simplify Insurance Sales for Independent Agents
August 27 2024 - 8:30AM
Root, Inc. (NASDAQ: ROOT), a leading technology company powering
insurance solutions and the parent company of Root Insurance
Company, and Goosehead Insurance, Inc. (NASDAQ: GSHD), a rapidly
growing independent personal lines insurance agency, today
announced their technology integration partnership that is
redefining the agent experience. This collaboration is a
significant step toward a mutual goal to enhance the insurance
process for agents and clients through cutting-edge technology.
Pairing Root’s simple, fast quote delivery with Goosehead’s
proprietary Quote to Issue (QTI) platform, the new experience
guides agents through the entire process—including application,
coverage customization, and payment—50% faster than before.
“The agent experience has long been lacking innovation, user
enhancements, and advanced technology,” said Jason Shapiro, Senior
Vice President of Business Development at Root. “Recognizing this
gap, Root and Goosehead identified a unique opportunity to leverage
our combined technological strengths to make the insurance-buying
process more efficient. This partnership focuses on creating a
fast, easy quoting experience for agents while delivering a great
insurance product at a competitive price for clients.”
Together, Root and Goosehead have developed a fully embedded
insurance product that simplifies the distribution process by
taking agents directly to bindable, actionable quotes for their
clients. This integration allows agents to provide a quick,
simplified, and transparent insurance experience.
Brian Patillo, Executive Vice President of Goosehead, added,
“Investing in technology is paramount to our mission at Goosehead
Insurance. This partnership with Root represents a significant
advancement in our mission to deliver the best possible experience
for our clients and agents. By integrating Root policies into our
platform, we’re not only using technology to streamline the process
for our agents but also ensuring our clients receive a top-tier
product at a great price.”
The partnership between Root and Goosehead is poised to set a
new standard for the industry, combining the strengths of both
companies to create a more efficient, client-focused insurance
experience.
About Root, Inc.Founded in 2015 and based in
Columbus, Ohio, Root, Inc. (NASDAQ: ROOT) is the parent company of
Root Insurance Company. Root is revolutionizing insurance through
data science and technology to provide consumers a personalized,
easy, and fair experience. The Root app has 14 million downloads
and has collected more than 27 billion miles of driving data to
inform their insurance offerings. To learn more about Root, visit
root.com.
About Goosehead InsuranceGoosehead (NASDAQ:
GSHD) is a rapidly growing and innovative independent personal
lines insurance agency that distributes its products and services
through corporate and franchise locations throughout the United
States. Goosehead was founded on the premise that the consumer
should be at the center of our universe and that everything we do
should be directed at providing extraordinary value by offering
broad product choice and a world-class service experience.
Goosehead represents over 150 insurance companies that underwrite
personal and commercial lines. For more information, please visit
goosehead.com or goosehead.com/become-a-franchisee.
Media
Contactspress@joinroot.comPR@goosehead.com
Forward-Looking StatementsThis press release
contains forward-looking statements within the meaning of federal
securities laws. These forward-looking statements relate to, among
other things, expectations about our future business results. Such
forward-looking statements are not guarantees of future performance
and are subject to risks, uncertainties and other factors, some of
which are beyond our control and are difficult to predict. We have
based our forward-looking statements on our current expectations,
estimates and projections about our industry and our company. We
caution that these statements are not guarantees of future
performance and you should not rely unduly on them, as they involve
risks, uncertainties and assumptions that we cannot predict and
many of which are beyond our control. Accordingly, our actual
results may differ materially from the future performance that we
have expressed or forecast in our forward-looking statements. In
accordance with “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995, we have included in our SEC filings,
cautionary language identifying important factors, though not
necessarily all such factors, that could cause future outcomes to
differ materially from those set forth in the forward-looking
statements. Copies of Root’s Form 10-K and other SEC filings are
available on the SEC’s website, Root’s website at
https://ir.joinroot.com/investor-relations or by contacting Root’s
Investor Relations office. Copies of Goosehead’s Form 10-K and
other SEC filings are available on the SEC website, Goosehead’s
website at ir.gooseheadinsurance.com, or by contacting Goosehead’s
Investor Relations.
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