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Root is a car insurance company founded on the belief that good drivers should pay less for insurance since they’re less likely to get into accidents. Some drivers are paying significantly more than they should for car insurance because most carriers base rates primarily on demographics, not driving. We’re fixing that. Root is reinventing the broken insurance industry by using technology in smartphones to measure driving behavior. The Root app measures things like smooth braking and turning to determine who is a safe driver and who isn’t. By only insuring good drivers, we can offer more affordable rates. And the software the engineering team built from scratch powers it all. Maria will share more about how we built an insurance company from scratch and how our Engineering teams continue to unbreak the insurance industry every day.
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The video titled **"Engineering at Root"** features Maria Moore, a candidate experience manager at Root Insurance, who outlines how Root is innovating the insurance industry. Founded in 2015, Root aims to make car insurance fairer by using technology to measure driving behavior rather than relying primarily on demographic factors like age or zip code. The central theme of the presentation is rooted in the idea of 'unbreaking' the insurance industry by utilizing data and telematics in a way that provides more affordable rates for good drivers. Key points discussed in the video include: - **Mission of Root Insurance**: The company strives to address the archaic practices of the insurance industry by utilizing modern technology and data-driven methods to create more equitable insurance pricing. - **Technology and Telematics**: Root is the first licensed insurance carrier powered entirely by mobile technology. The Root app measures driving habits such as smooth braking and driving at safe hours to generate a personalized driving score that is used for pricing insurance rather than demographic-based data. - **Process Overview**: The user experience includes signing up through the mobile app, completing a test drive to gather data on driving habits, and receiving an insurance quote based on this data. The focus is on providing a quick and efficient process compared to traditional methods. - **Future Plans**: Root is exploring partnerships with other companies, such as Carvana, to streamline the insurance process further. The goal is to continue enhancing user experience and to integrate their services into wider auto-related sectors. - **Engineering Growth**: Maria shares how the engineering team has scaled from 78 employees in 2018 to approximately 1,450 employees today. With growth comes challenges related to maintaining proper processes and collaboration. - **Company Culture and Values**: Root values autonomy, impact, collaboration, and a people-first culture. Engineers are encouraged to engage in problem-solving, teamwork, and creative hacks to foster innovation. - **The Drop the Score Initiative**: Root is committed to removing credit scores from their insurance pricing models to promote fairness and equity. In conclusion, Root Insurance is on a mission to redefine how car insurance is priced and delivered by harnessing technology, focusing on driving behavior rather than demographics, and pursuing equitable practices throughout its operations.
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