Root Insurance Partners with Goosehead Insurance to Simplify Insurance Sales for Independent Agents
- Root's innovative offering integrated with Goosehead's proprietary, Quote to Issue (QTI) platform, reduces the time for agents to sell policies by more than 50% through deep integration, eliminating the need to bridge to separate systems.
- This technology integration is unique to the Goosehead-Root relationship, positioning Goosehead agents to sell Root's insurance products faster and more efficiently than their competitors. This advantage allows Goosehead to fulfill its promise of delivering the right coverage at the best price for clients.
COLUMBUS, Ohio and WESTLAKE, Texas, Aug. 27, 2024 (GLOBE NEWSWIRE) -- 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 Insurance
Goosehead (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.
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Forward-Looking Statements
This 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.
