Root Insurance, an auto insurance start-up leveraging AI to adjust risk, has partnered with global professional services firm Genpact.
The partnership will focus on optimizing the efficiency of claims processing, to improve the Root customer experience and drive growth, a release said.
Through the partnership, Root’s claims processes can be streamlined thanks to Genpact’s expertise in digital innovation. Genpact brings to the table best practices in insurance operations from its expertise and experience working with many leading carriers, allowing Root to quickly scale its business.
“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 Root Insurance co-founder and chief technology officer Dan Manges.
“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,” added Genpact global business leader of insurance Sasha Sanyal.
Read more: Insurtech startup raises $100 million - gets valued at over $1 billion
Root Insurance is the first licensed insurance carrier in the US that is powered entirely by mobile. Last year, the insurtech raised $100 million in a Series D funding round.
