Root Insurance: Roadside for An Insurance Innovator

Root Insurance, founded in 2015, set out to make car insurance fair. The status quo for car insurance rates, based on a driver’s age, vehicle and mileage, had remained largely unchanged since 1937. These demographic factors were based on the fundamental assumption that who the driver is is the best proxy for how they drive. Root Insurance upended this with a digital-first, telematics approach, assessing each driver for how they actually drive and offering a personalized rate based on this performance. In most cases this results in a significant savings.

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In line with the mission of fairness, Root Insurance looked to provide policyholders with across-the-board access to services, like roadside assistance, that others across the industry added to policies for additional cost. Based on the recognition that roadside is a critical touch point, it is part of every policy at the outset. To better understand this novel approach, Sarah Woods of Root Insurance explained:

“Including roadside is very well aligned with our goal of fairness and wanting to make sure we are unbreaking the insurance industry. In its simplest form, insurance is a promise that we are going to provide support and relief if you end up in a precarious situation with your vehicle. By extending our roadside program to every customer, we feel that is a huge part of that promise.”

But to deliver on this promise, Root needed a partner that could match their digital first approach. They wanted roadside to match the seamless experience from their app. With our Swoop platform, they are able to meet their brand standard by integrating with our Swoop API. As a result, the vast majority of their requests originate directly from their app.

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And enabling roadside assistance in this self-serve, digital way is having an impact. Agero research recently analyzed the impact of request channel on satisfaction and found that consumers who requested service through digital channels like mobile app or web app tend to have a better experience. Root’s consumer satisfaction scores more than reflect this, with an NPS exceeding 80.

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At Agero, we are proud to support an innovative organization like Root Insurance and their customers. Their disruptive approach to the insurance industry is refreshing and exciting. We are thrilled to partner with them. Enjoy the ride.

To learn more about Root Insurance and their innovative approach to roadside, be sure to check out our podcast.

 

 
 

Meet the Author: Steve Medeiros - VP, Insurance Market

For more than 15 years, Steve has been responsible for building and leading the Agero’s client services team with a specific focus on the insurance market. Steve’s deep understanding of the insurance market has been instrumental in defining Agero’s strategy for both roadside and accident management. Steve has a BS in Finance from Fordham University.
 
 

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