Root, Inc. Provides Earnings Guidance for the Fiscal Year 2021
February 26, 2021 at 02:45 am IST
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Root, Inc. provided earnings guidance for the fiscal year 2021. For the year, the company expects direct written premium in the range of $805 million to $855 million, direct earned premium in the range of $685 million to $715 million, GAAP total revenue in the range of $270 million to $300 million and operating loss in the range of $555 million to $505 million.
Root, Inc. is a holding company. The Company operates through its subsidiaries, including Root Insurance Company, Root Property & Casualty Insurance Company and Root Reinsurance Company, Ltd. The Company is a technology insurance company operating a direct-to-consumer model with its personal insurance customers acquired through mobile apps. It offers auto and renters insurance products underwritten by Root Insurance Company and Root Property & Casualty. The Company, by collecting and synthesizing sensory behavioral data across thousands of driving variables, including distracted driving, it strives to price auto insurance based more on causality than correlation. It uses telematics, mobile technology and its digital platform to collect data points that it evaluates in pricing and underwriting certain of its insurance policies, managing claims and customer support, and improving business processes. Its primary focus is on the United States auto insurance market.
ROOT, INC. 
