Root leverages Genpact’s insurance process and digital expertise to optimize efficiency, scale innovation, and expand into new markets.
Genpact (NYSE: G), a global professional services firm focused on delivering digital transformation, and Root Insurance, a leading industry disruptor, today announced they are partnering together to further Root’s vision of reinventing the auto insurance industry. The partnership will focus on optimizing efficiency of claims processing, further improving the Root customer experience, and driving competitive growth.
As the first licensed insurance carrier in the United States powered entirely by mobile technology, Root’s innovative business model bases rates primarily on an individual’s driving behavior. Root members expect an easy digital experience. With Genpact’s expertise in digital innovation and focus on a seamless consumer experience, Root claims processes can be easily streamlined in many cases from multiple days to mere hours.
“Root continues to grow rapidly. As we expand within the United States, we need a flexible and nimble business partner who shares our desire to disrupt the insurance market,” said Dan Manges, cofounder and chief technology officer at Root. “As a digital transformation leader with deep experience in the insurance industry, Genpact has proven to be a partner that can easily integrate its capabilities with our technology to simplify processes and help us improve service to our customers.”
Genpact’s comprehensive insurance process solutions help Root deliver a best-in-class digital experience though a streamlined touchless claims process. Genpact brings best practices in insurance operations from its expertise working with numerous leading carriers. As a result, Root can more quickly scale its business and maintain an aggressive growth and innovation strategy.
“Traditional insurers have long been hindered by static pricing models and expensive operations that aren’t scalable. Root is disrupting the industry by using data and driver behavior to offer more accurate premiums, while simplifying the claim process and putting their members in control,” said Sasha Sanyal, global business leader, insurance at Genpact. “We share Root’s vision to leverage the power of technology and data to better serve customers in today’s digital economy. Genpact is helping Root scale innovation to not only improve the member experience, but also create new business models to better compete in a rapidly evolving market.”
See Genpact’s website for more information about its insurance capabilities, including fast-track claims processing, field inspections services, digital inspection tools, claims segmentation, and triage analytics.
Root Insurance is the nation’s first licensed insurance carrier powered entirely by mobile and founded on the principle that car insurance rates should be based on how you drive, not who you are. Through smartphone technology and data science, Root measures driving behavior and uses it as the primary factor in determining rates. The results are personalized car insurance for good drivers, better rates, and a seamless mobile app experience.
Root is headquartered in Columbus, Ohio, and is currently available to drivers in Arizona, Arkansas, Colorado, Connecticut, Delaware, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maryland, Mississippi, Missouri, Montana, Nebraska, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, and Utah, and will be coming to more states soon.