Root Insurance has announced a partnership with Goosehead Insurance in a bid to redefine the insurance agent experience through the integration of advanced technology.
The collaboration is focused on enhancing the insurance process for agents and clients by leveraging cutting-edge technology.
The goal is to streamline the quoting, application, and payment process by 50%, making it faster and more efficient.
Root, based in Ohio, is known for its innovative approach to car insurance, utilising technology to offer personalised coverage based on driver behaviour.
Goosehead, headquartered in Texas, is a tech-driven insurance agency specialising in personal lines insurance, such as home and auto, using its proprietary Quote to Issue (QTI) platform to provide a seamless agent experience.
Together, the two companies have developed a fully embedded insurance product that simplifies the distribution process.
This technology allows agents to directly access bindable and actionable quotes for their clients, improving transparency and efficiency.
The partnership ensures agents can deliver an easy and quick quoting experience while offering clients competitive pricing on insurance products.
In a statement, Jason Shapiro, Senior Vice President of Business Development at Root, highlighted the industry gap in innovation for agents. He said, “The agent experience has long been lacking innovation, user enhancements, and advanced technology. Recognising this gap, Root and Goosehead identified a unique opportunity to leverage our combined technological strengths to make the insurance-buying process more efficient. This partnership focuses on creating a fast, easy quoting experience for agents while delivering a great insurance product at a competitive price for clients.”
Echoing these sentiments, Brian Patillo, Executive Vice President of Goosehead, added, “Investing in technology is paramount to our mission at Goosehead Insurance. This partnership with Root represents a significant advancement in our mission to deliver the best possible experience for our clients and agents. By integrating Root policies into our platform, we’re not only using technology to streamline the process for our agents but also ensuring our clients receive a top-tier product at a great price.”
This collaboration marks a significant shift in the InsurTech space, with Root and Goosehead combining their strengths to set a new industry standard in insurance delivery.
Copyright © 2024 InsurTech Analyst
