Root insurance laying off 330 employees. Will they make it?

Root insurance is an insuretech company that has changed the way that insurance is calculated, putting heavier emphasis on the actual driving over the type of metrics the driver is around.

Unfortunately Root insurance isn't doing the best and had a loss of $400 million over last year. They are laying off 330 employees. In this video I go over my thoughts on whether or not they will make it and if it's an investment you should look at.

#rootinsurance #root

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DISCLAIMER:
Please consult your agent before making any changes you feel you are not knowledgeable with. Due that the laws being different in each state, I am not responsible for any changes or updates that may have occurred after the making of this video.

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[emissary_kyle]

I've had a lot of customers who try to renew with them and they can't afford to. I mostly deal w/ fairly risky drivers so it's not too surprising. I think that licensing out their tech might be a good move as you elluded to.

[cynthiahaning]

Machines cannot be held accountable, warning especially for car accidents.

[dirtybozackdirtybozack]

Terrible for shareholders $27 to under $2 .

[quairan]

I think they'll be acquired by some bigger company.

[blueberrrry]

They also partnered with Carvana exclusively I think a major buyout will come after a while either from Carvana, BlackRock or an insurance company... being tech first scales greatly when they hit profitability they can be more aggressive with the expansion not to mention changing regularity in more n more states... but definitely wont happen overnight...

[josiahthompson]

The majority of their layoffs was their sales dept, I was one of them, they aren’t built to last, it’s unfortunate, but they were pushing impossible numbers on the sales dept, and partnering with Carvana killed us

[RachelStepp]

Put this horrible company out of business. File complaints with your state level Department of Insurance and the BBB. They are deceptive and refuse to pay claims that the police, dash cam and witnesses can prove that they owe just because the adjuster says : our driver can't remember the events of the evening so we are not honoring this claim" and then they refuse to answer any communication afterward. Their BBB rating is the worst. Be ware! I wont stop talking until they do right or go out of business. My lawyer says they'll be out of business in no time.

[shawnamartin]

That's a lie they don't have any money they got these guys on YouTube to lie for them.