Root

Changes in short interest were muted despite large stock moves, including big rises at HCI and Lemonade.

The Inside P&C Research team looks at what subsectors the new class of InsurTechs is targeting.

Auto InsurTech Root said on Tuesday that the company completed its catastrophe reinsurance program renewal at June 1 using Tremor’s auction-based tech platform Panorama.

Personal auto carriers lowered rates in response to 2020’s loss cost trends, but chasing market share now could be a mistake.

Short interest data shows an incremental uptick in short interest for InsurTechs, with slight declines for the brokers.

Root has been mentioned seven times on Reddit message board WallStreetBets in the last two days, with many comments noting the significant short seller interest in the stock.

Former Evernote CTO Anirban Kundu will take over from Manges, who will remain an employee during a handover period, before becoming an adviser.

The personal lines giant announced a $300mn deal last night to buy non-standard auto writer SafeAuto.

The SPACs merging with Hippo, Doma and Qomplx are all trading below the redemption price.

Management should examine the relationship between company strategy, broader market cycles and short interest.

Continued capital depletion could result in additional pressure on management teams with regard to executing their original business plans.

Any faster-than-anticipated re-opening could have a negative impact on loss cost trends.