Hyundai Capital America and Root Inc. Announce Partnership to Drive Innovation in Auto Finance and Insurance Industries
Root Inc. (NASDAQ: ROOT) and Hyundai Capital America (HCA) have announced a strategic partnership aimed at innovating auto finance and insurance solutions. The collaboration combines HCA's auto finance leadership with Root's mobile technology and customer-focused insurance expertise to deliver personalized, data-driven insurance solutions.
The partnership focuses on providing competitive rates to HCA customers through data-driven insurance solutions, enhancing the overall vehicle ownership experience. HCA President and CEO Marcelo Brutti emphasized their commitment to customer-centric innovation, while Root's Founder and CEO Alex Timm highlighted the opportunity to build unique solutions for HCA drivers while expanding Root's insurance distribution channels.
Root Inc. (NASDAQ: ROOT) e Hyundai Capital America (HCA) hanno annunciato una partnership strategica volta a innovare le soluzioni di finanziamento e assicurazione auto. La collaborazione combina la leadership di HCA nel finanziamento auto con la tecnologia mobile di Root e l'esperienza assicurativa focalizzata sul cliente, per offrire soluzioni assicurative personalizzate e basate sui dati.
La partnership si concentra sulla fornitura di tariffe competitive ai clienti di HCA attraverso soluzioni assicurative basate sui dati, migliorando l'esperienza complessiva di possesso del veicolo. Il Presidente e CEO di HCA, Marcelo Brutti, ha sottolineato il loro impegno per l'innovazione centrata sul cliente, mentre il Fondatore e CEO di Root, Alex Timm, ha evidenziato l'opportunità di costruire soluzioni uniche per i conducenti di HCA, ampliando al contempo i canali di distribuzione delle assicurazioni di Root.
Root Inc. (NASDAQ: ROOT) y Hyundai Capital America (HCA) han anunciado una asociación estratégica destinada a innovar en soluciones de financiamiento y seguros automotrices. La colaboración combina el liderazgo de HCA en financiamiento automotriz con la tecnología móvil de Root y la experiencia en seguros centrada en el cliente para ofrecer soluciones de seguros personalizadas y basadas en datos.
La asociación se enfoca en proporcionar tarifas competitivas a los clientes de HCA a través de soluciones de seguros impulsadas por datos, mejorando la experiencia general de propiedad del vehículo. El Presidente y CEO de HCA, Marcelo Brutti, enfatizó su compromiso con la innovación centrada en el cliente, mientras que el Fundador y CEO de Root, Alex Timm, destacó la oportunidad de construir soluciones únicas para los conductores de HCA, al mismo tiempo que amplía los canales de distribución de seguros de Root.
Root Inc. (NASDAQ: ROOT)와 Hyundai Capital America (HCA)는 자동차 금융 및 보험 솔루션 혁신을 목표로 하는 전략적 파트너십을 발표했습니다. 이 협력은 HCA의 자동차 금융 리더십과 Root의 모바일 기술 및 고객 중심 보험 전문성을 결합하여 개인화된 데이터 기반 보험 솔루션을 제공합니다.
이 파트너십은 데이터 기반 보험 솔루션을 통해 HCA 고객에게 경쟁력 있는 요금을 제공하는 데 중점을 두어 차량 소유 경험을 향상시킵니다. HCA의 회장 겸 CEO인 Marcelo Brutti는 고객 중심 혁신에 대한 그들의 헌신을 강조했으며, Root의 창립자 겸 CEO인 Alex Timm은 HCA 운전자를 위한 독특한 솔루션을 구축할 기회를 강조하면서 Root의 보험 유통 채널을 확장하고자 했습니다.
Root Inc. (NASDAQ: ROOT) et Hyundai Capital America (HCA) ont annoncé un partenariat stratégique visant à innover dans les solutions de financement et d'assurance automobile. La collaboration allie le leadership d'HCA en matière de financement automobile à la technologie mobile de Root et à l'expertise en assurance centrée sur le client pour proposer des solutions d'assurance personnalisées et basées sur les données.
Le partenariat se concentre sur la fourniture de tarifs compétitifs aux clients d'HCA grâce à des solutions d'assurance basées sur les données, améliorant ainsi l'expérience globale de possession d'un véhicule. Le président et CEO d'HCA, Marcelo Brutti, a souligné leur engagement envers l'innovation centrée sur le client, tandis qu'Alex Timm, fondateur et CEO de Root, a mis en avant l'opportunité de construire des solutions uniques pour les conducteurs d'HCA tout en élargissant les canaux de distribution d'assurance de Root.
Root Inc. (NASDAQ: ROOT) und Hyundai Capital America (HCA) haben eine strategische Partnerschaft angekündigt, die darauf abzielt, innovative Lösungen für Autofinanzierung und -versicherung zu entwickeln. Die Zusammenarbeit kombiniert die Führungsstärke von HCA im Bereich Autofinanzierung mit der mobilen Technologie von Root und der kundenorientierten Versicherungsexpertise, um personalisierte, datengestützte Versicherungslösungen anzubieten.
Der Fokus der Partnerschaft liegt darauf, HCA-Kunden wettbewerbsfähige Tarife durch datengestützte Versicherungslösungen anzubieten, um das gesamte Fahrerlebnis zu verbessern. HCA-Präsident und CEO Marcelo Brutti betonte ihr Engagement für kundenorientierte Innovation, während Root-Gründer und CEO Alex Timm die Möglichkeit hervorhob, einzigartige Lösungen für HCA-Fahrer zu entwickeln und gleichzeitig die Vertriebskanäle von Roots Versicherung zu erweitern.
- Strategic partnership with major auto finance company expands ROOT's market reach
- Opportunity to access new customer base through HCA's distribution channels
- Partnership enables data-driven insurance solutions development
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Insights
Root's strategic partnership with Hyundai Capital America represents a significant distribution channel expansion that aligns perfectly with the company's stated diversification strategy. This move could substantially reduce Root's customer acquisition costs—historically a major challenge for the insurtech—by providing direct access to HCA's extensive customer base of Hyundai, Kia, and Genesis vehicle owners.
The partnership creates a potential embedded insurance opportunity where Root can offer its data-driven products at relevant moments in the customer journey, potentially at much lower acquisition costs than its traditional direct-to-consumer model. For a company with a
While the announcement lacks specific financial projections or exclusivity terms, the strategic value is clear: Root gains access to a captive audience of auto finance customers, while HCA enhances its value proposition with personalized insurance offerings. The collaboration could create a more predictable revenue stream compared to Root's primarily direct acquisition model, potentially improving investor confidence in the company's long-term growth trajectory.
This partnership represents Root's continued evolution from a pure direct-to-consumer insurer into a more diversified insurance technology platform, potentially unlocking more efficient growth paths as the company leverages its AI and mobile technology across multiple distribution channels.
COLUMBUS, Ohio, April 02, 2025 (GLOBE NEWSWIRE) -- Root, Inc. (NASDAQ: ROOT), a leading technology company powering insurance solutions and the parent company of Root Insurance Company, and Hyundai Capital America (HCA) today announced a strategic partnership to bring innovative solutions and enhanced experiences to HCA customers. This collaboration aims to optimize the strengths of both companies to drive advancements in the auto finance and insurance industries.
HCA’s leadership in auto finance, combined with Root’s expertise in mobile technology and customer-focused insurance models, seeks to address evolving industry needs and set new benchmarks for customer satisfaction. By offering tailored products, the partnership strives to enhance the overall vehicle ownership experience to deliver personalized, technology-driven solutions.
"HCA’s commitment to customer-centric innovation and technology is at the forefront of our mission this year," said Hyundai Capital America President and CEO Marcelo Brutti. “Through this partnership, we aim to unlock new possibilities and improve the ownership journey for our drivers."
The collaboration is expected to deliver insurance solutions that offer data-driven, competitive rates to HCA customers, driving a more connected experience that reflects their individual needs.
"We are excited to partner with Hyundai Capital America, a company that shares our passion for innovation and customer-first solutions," said Alex Timm, Founder and CEO at Root, Inc. "This partnership allows us to build something unique for HCA drivers, while further diversifying and expanding our insurance offerings across multiple distribution channels."
Root and HCA share a vision of enhancing the automotive space through technology, data, and customer-focused strategies, driving innovation to redefine the future of car insurance. Together, the companies will leverage their combined expertise to make insurance more accessible and personalized to how people live and drive today.
About Hyundai Capital America
Hyundai Capital America (HCA) is one of the largest auto finance companies in the U.S. supporting the financial services needs of Hyundai Motor America, Genesis Motor America, and Kia America. Through the Hyundai Motor Finance®, Genesis Finance®, and Kia Finance America® brands, HCA offers installment loans, leasing, and financing products to consumer and business customers across the U.S., as well as inventory, real estate, and operating capital financing for Hyundai, Genesis and Kia dealerships. Over the last 35 years, HCA has effectively served more than 2.7 million customers and more than 1,800 dealers nationwide. In addition to its headquarters in Orange County, California, HCA has customer support centers in Atlanta, Georgia and Dallas, Texas.
HCA Contacts:
Media Relations:
Angela Nicolaou, angela.nicolaou@hcs.com
Investor Relations:
Charley Yoon, charley.yoon@hcs.com
About Root, Inc.
Founded in 2015 and based in Columbus, Ohio, Root, Inc. (NASDAQ: ROOT) is the parent company of Root Property & Casualty Insurance Company and Root Insurance Company. Root is revolutionizing insurance through data science and technology to provide consumers a personalized, easy, and fair experience. The Root app has more than 15 million app downloads and has collected more than 30 billion miles of driving data to inform their insurance offerings.
For more information about Root, visit root.com. Download the Root app today from the Apple App Store or Google Play. To see where Root is available, explore our state-by-state guide on the website.
Root Contacts:
Media Relations:
press@root.com
Investor Relations:
ir@root.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws regarding Root, Inc. These forward-looking statements relate to, among other things, expectations about our future business results and the success of our agreement with Hyundai Capital America, which is subject to various terms and conditions, including our ability to provide minimum levels of customer service. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the company's control and are difficult to predict, including our ability to profitably acquire new customers through the HCA partnership, our ability to retain any such customers, and our ability realize other expected benefits from our agreement with HCA. We have based our forward-looking statements on our current expectations, estimates and projections about our industry and our company. We caution that these statements are not guarantees of future performance and you should not rely unduly on them, as they involve risks, uncertainties and assumptions that we cannot predict and many of which are beyond our control. Accordingly, our actual results may differ materially from the future performance that we have expressed or forecast in our forward-looking statements. In accordance with "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, we have included in Root's Form 10-K for the year ended Dec. 31, 2024, and other SEC filings, cautionary language identifying important factors, though not necessarily all such factors, that could cause future outcomes to differ materially from those set forth in the forward-looking statements. Copies of Root's Form 10-K and other SEC filings are available on the SEC's website, Root's website at ir.joinroot.com/investor-relations or by contacting Root's Investor Relations office.
FAQ
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