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Root Uses Smartphone Data for Personalized car Insurance – Multi-Year High Approaches After Strong Q1!
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Root (ROOT) aims to conquer a $364 billion US car insurance market with advanced technologies and become the largest and most profitable provider of private insurance in the USA in the long term. The industry offers significant transformation opportunities, with no changes among the top 10 insurance providers since 1937. Collected data via smartphones will now be used to assess consumer driving behavior in a multi-week testing process, offering customized insurance plans based on a calculated driver score, potentially providing annual savings of...
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