Root, a privately owned business consulting and services firm founded in 1984, is headquartered in the US. Employing approximately 180 people as of 2023, Root specializes in strategy activation consulting. The company is currently a subsidiary of Accenture.
Root uses technology, data science, and automation to assess risk more accurately than traditional insurers. This technology underpins its business model, impacting customer acquisition, underwriting, and claims processing. Investment income contributes to overall performance, supplementing earnings from the core business of policy growth and disciplined underwriting, especially during periods of favorable interest rates. Policies in force (PIF) serve as a key growth metric, reflecting the number of active insurance policies. Improvements in PIF, combined with careful rate management, increase premium revenue.
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