Root, Inc.

“Through partnerships with financial partners like Experian, we are embedding insurance into high-intent financial moments, credit monitoring and personal financial management.”

Root embeds insurance into Experian's financial products (credit monitoring, personal financial management) as a financial-services distribution partner.

“Our OEM partnerships, including Hyundai and Toyota, demonstrate another level of differentiation.”

Root names Hyundai among its OEM connected-vehicle partnerships enabling telematics-based pricing at policy inception.

“the recently announced partnership with Toyota that enables consenting drivers to receive an instant telematics-based car insurance quote from Root.”

Root's newly announced Toyota partnership lets consenting connected-vehicle owners share driving data for instant telematics-based quotes.

“In the independent agent channel, our integration with Goosehead has reduced quote-to-bind time by more than 50%.”

Root's API integration inside Goosehead's agent platform cut quote-to-bind time by over 50%.

“With Carvana, we are deeply embedded in their purchase flow. Customers can quote and buy an insurance in 3 clicks and as little as 30 seconds without ever leaving the Carvana experience.”

Root is deeply embedded in Carvana's vehicle purchase flow, a 4-year-old partnership aligned on increasing vehicle transactions.

“our net loss in the quarter was primarily driven by a $17 million noncash expense related to our warrant structure with Carvana. Of the $17 million, $15.5 million reflects a cumulative expense catch-up. This expense ultimately reflects the success of our partnership as the vesting of warrants depends on achieving policy origination milestones.”

Root's warrant-vesting expense with Carvana grows as policy-origination milestones are met, signaling ramping volume through the Carvana insurance partnership.

“We are now available through the industry's 2 largest comparative raters, EZLynx and PL Rating.”

Root is now distributing through PL Rating, one of the two largest independent-agent comparative rating platforms, expanding its partnerships-channel reach across 20+ states.

“We are now available through the industry's 2 largest comparative raters, EZLynx and PL Rating.”

Root is now distributing through EZLynx, one of the two largest independent-agent comparative rating platforms, expanding its partnerships-channel reach across 20+ states.

“we're very happy with the Carvana partnership. It's been a huge success for us. And we think that, that product is really special in market.”

Root calls its Carvana embedded-insurance partnership a huge success, though it notes no single partner is a majority of partnership volume; a positive read-through for the Carvana tie-up.

“assuming the Carvana short-term warrants expire unexercised on September 1, we would recognize a cumulative warrant expense catch-up”

Root expects a ~$16-18M Q3 noncash warrant expense tied to its Carvana embedded-insurance partnership as short-term warrants transition to long-term (policy-sales-based) warrants.

“Q1 was the first quarter to reflect our run rate interest expense savings from the recently amended debt facility with BlackRock.”

Root's debt facility is provided by BlackRock; an amended facility with performance-based step-downs cut Root's interest rate by 25 basis points in Q1, lowering its cost of capital.

“Our partnership with Experian offers Root Insurance through Experian Insurance Marketplace, providing their members expanded access to affordable and personalized car insurance options. By leveraging our technology, this integration enhances and streamlines the insurance shopping experience, delivering data-driven, competitive rates to Experian members.”

Root added Experian Insurance Marketplace as a new distribution partner in Q1 2025, giving Experian's members access to Root's insurance quotes as part of Root's partnerships-channel expansion.