Provides an API-first SaaS platform for embedding and managing digital insurance products within existing customer ecosystems. Simplifies policy administration, compliance, and data management, enabling brands to launch and scale insurance offerings with minimal integration effort. Supports over 1.7 million in-force policies and offers tools for product customization, partner distribution, and secure data access.
Funding
$4.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional insurance product development and management often involve complex processes, lengthy integration times, and challenges in adapting to evolving customer needs and market demands. Existing systems can be rigid, making it difficult for businesses to quickly launch new insurance offerings or integrate them into existing customer ecosystems.
Solution
Root provides an API-first SaaS platform designed to streamline the creation, deployment, and management of digital insurance products. The platform offers a low-code environment with over 500 open insurance APIs, enabling businesses to build and launch insurance products with speed and flexibility. Root simplifies policy administration, compliance, and data management, allowing brands to embed insurance solutions within their existing customer touchpoints. The platform's modular design allows for the modernization of specific parts of the insurance value chain, integrating with legacy systems and unlocking the power of insurance data for data-driven decision-making. Root's infrastructure is SOC2 certified, ensuring secure and reliable operations for clients in various regions.
Target Audience
Root is designed for insurance providers, large brands, retailers, MGAs, schemes, cell owners and captives seeking to build, launch, and scale digital and embedded insurance products.
Features
- Comprehensive suite of 500+ open insurance APIs for omni-channel and affinity partner distribution
- Low-code Product Workbench for rapid product design and configuration
- Policy administration system to streamline insurance operations and compliance
- Data Adapter for secure and flexible access to insurance data
- Modular platform design for integration with existing legacy systems
- Real-time business intelligence (BI) embedded directly into the platform
- Support for a wide range of insurance products
- End-to-end solution encompassing digital sales channels, digital insurance operations, and ecosystem management