Root
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Reduced accident development led to a prior underestimate in the December frequency benefit. -
Capital markets are adjusting to a new reality in which online communities of retail traders can fuel dramatic swings in equity prices.
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Inside P&C places the key news from the past week under the microscope.
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Root’s “4.0” underwriting model will bring “giant improvements", the CEO said at a Goldman Sachs conference.
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The governance practices at Lemonade, Root and Metromile are distinctly “management-friendly” and bear some resemblance to tech disruptors outside the industry.
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After the high of a “successful” IPO, Root has quickly been introduced to the less fun sides of being a public company.
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The share price of the Ohio-based carrier had dropped to $15.26 by midday.
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The CEO said that state-wide expansion would be a “substantial growth lever” for the business.
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The CEO said that state-wide expansion would be a “substantial growth lever” for the business.
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Root’s loss ratio fell 23.5 points to 89.8% in Q3, while its loss adjustment expenses improved 3 points to 9.9%.
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The bank is among Wall Street institutions sounding a note of cautious optimism as they begin to cover the InsurTech.
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But for its stock valuation and ~$650mn to $750mn in new cash proceeds, Root seems in every way like a business in crisis based on its fundamentals.
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