Core Insights - First Connect Insurance Services partners with Root Insurance to enhance digital capabilities for independent agents, providing API-powered quote and bind functionalities [1][4] - The collaboration aims to streamline access to auto insurance products for agents in California, with plans to expand to 25 additional states by the end of October [2][4] Company Overview - First Connect is a digital platform that supports independent agents by offering access to over 100 carriers and managing general agents (MGAs) across various insurance lines, including home, auto, cyber, small business, life, and specialty [6] - Root, Inc., founded in 2015, is a technology-driven insurance company that utilizes data science to provide personalized insurance experiences, boasting 14 million app downloads and over 27 billion miles of driving data collected [6] Technological Integration - The new interface allows agents to enter basic customer details, which then retrieves relevant data on drivers and vehicles, offering tailored policy options based on state requirements and previous coverages [3] - Agents can operate across multiple devices without needing to re-enter carrier credentials, enhancing efficiency in the insurance process [3][4]

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 cover ...

Core Viewpoint - Root, Inc. reported a quarterly loss of $0.52 per share, significantly better than the Zacks Consensus Estimate of a loss of $1.74, marking an earnings surprise of 70.11% [1] - The company has consistently surpassed consensus EPS estimates over the last four quarters [2] Financial Performance - Root's revenues for the quarter ended June 2024 were $289.2 million, exceeding the Zacks Consensus Estimate by 25.74%, compared to $74.8 million in the same quarter last year [2] - The company has also topped consensus revenue estimates in each of the last four quarters [2] Stock Performance - Root shares have increased approximately 427.3% since the beginning of the year, outperforming the S&P 500's gain of 9.9% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$1.16 on revenues of $256 million, and for the current fiscal year, it is -$4.03 on revenues of $1.02 billion [7] - The trend of estimate revisions for Root is mixed, which may change following the recent earnings report [6] Industry Context - The Insurance - Property and Casualty industry, to which Root belongs, is currently ranked in the top 39% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

COLUMBUS, Ohio, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Root, Inc. (NASDAQ: ROOT), the parent company of Root Insurance Company, announced financial results for the quarter today. Root's second quarter financial results and management commentary can be found by accessing the shareholder letter posted to the company's investor relations website. An updated version of the company's investor presentation will also be available. Both can be found on ir.joinroot.com. Root will host a conference call and earnings webca ...

For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Root, Inc. (ROOT) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out. Root, Inc. is one of 862 companies in the Finance group. The Finance group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the g ...

Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of t ...

For further information on Root, please visit root.com. Contacts: Media: press@joinroot.com Investor Relations: ir@joinroot.com COLUMBUS, Ohio, July 16, 2024 (GLOBE NEWSWIRE) -- Root, Inc. (NASDAQ:ROOT), the parent company of Root Insurance Company, today announced its plans to host a conference call to discuss financial results for the second quarter on Wednesday, August 7, 2024 at 5:00 p.m. Eastern Time. The company plans to release second quarter results in the investor relations section of its website a ...

Webcast and Conference Call Details: A replay of the webcast will be made available for on-demand viewing after the call on the Investor Relations page of the Company's website at ir.joinroot.com. For further information on Root, please visit root.com. Investor Relations: ir@joinroot.com COLUMBUS, Ohio, July 16, 2024 (GLOBE NEWSWIRE) -- Root, Inc. (NASDAQ:ROOT), the parent company of Root Insurance Company, today announced its plans to host a conference call to discuss financial results for the second quart ...

COLUMBUS, Ohio, July 01, 2024 (GLOBE NEWSWIRE) -- Root, Inc. (NASDAQ:ROOT), a leading technology company powering insurance solutions and the parent company of Root Insurance, is excited to mark a significant home state NTT INDYCAR SERIES race for the company on July 7th at the Mid-Ohio Sports Car Course in Lexington, Ohio. In celebration of the event, Root and Chip Ganassi Racing will unveil a special livery for the race and fans will have a chance to win a signed gift from driver Marcus Armstrong. During ...

During the race weekend, Root is hosting members of the Ohio American Legion, 12th District Council in recognition of their service and in honor of the July 4th holiday. "We are incredibly proud to see Marcus driving the No. 11 Root Honda at Mid-Ohio," said Jason Shapiro, SVP of Business Development at Root. "His outstanding performance this season, particularly his podium finish in Detroit, exemplifies the same drive and determination that Root embodies. We're excited to cheer him on in our home state." Ab ...