Root, Inc. Expands Reach with Three New Professional Sports Team Partnerships

Rhea-AI Summary

Root, Inc. (NASDAQ: ROOT) has announced new partnerships with the Denver Broncos, Cleveland Browns, and Colorado Rockies as their official insurance partner. This initiative aims to enhance brand awareness and connect with audiences in key markets. Root's branding will be seen in media and game-day content. These partnerships expand on Root's existing collaboration with NASCAR's 23XI team and driver Bubba Wallace, which began in 2021. Root continues to leverage data science for personalized insurance solutions.

Positive

• New partnerships with NFL teams increase brand visibility in important markets.
• Enhanced marketing opportunities through media and game-day graphics integration.
• Continued expansion of sports sponsorships, building on existing NASCAR partnership.

Negative

• None.

Root, Inc. announces three new sports partnerships with the Denver Broncos, the Cleveland Browns, and the Colorado Rockies

COLUMBUS, Ohio, July 12, 2022 (GLOBE NEWSWIRE) -- Root, Inc. (NASDAQ: ROOT), a leading technology company powering insurance solutions and the parent company of Root Insurance, announced partnerships with two National Football League teams and one Major League Baseball team.

Root is now the official insurance partner of the Denver Broncos, Cleveland Browns, and additionally is a sponsor to the Colorado Rockies. Root’s name, logo, and advertisements will be integrated into the teams’ media, game-day graphics, and sponsored content.

“We’re very excited and proud to be stepping deeper into the sports marketing world. These partnerships allow us to connect directly with our key audiences in important markets,” said B.C. Silver, Root’s Chief Marketing Officer. “As we look to increase awareness of the Root brand in these markets, we believe these teams allow us great reach and connectivity with their loyal customer base. We Root for Good Drivers!”

These new sports sponsorships are in addition to the partnership with NASCAR team 23XI and driver Bubba Wallace. Root has sponsored 23XI since 2021.

About Root, Inc.
Root, Inc. is the parent company of Root Insurance Company. Root is a technology company revolutionizing insurance through data science and technology to provide consumers a personalized, easy, and fair experience.

Media Contact
press@joinroot.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. 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. 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, 2021, 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 https://ir.joinroot.com/investor-relations or by contacting Root's Investor Relations office.

FAQ

What new partnerships did Root announce on July 12, 2022?

Root announced partnerships with the Denver Broncos, Cleveland Browns, and Colorado Rockies.

What are the benefits of Root's new sports partnerships?

The partnerships aim to enhance brand awareness and connect with audiences in key markets.

How will Root's branding be integrated into the teams' promotions?

Root's name, logo, and advertisements will be featured in media and game-day graphics.

Is Root involved in any other sports sponsorships?

Yes, Root has an ongoing partnership with NASCAR's 23XI team and driver Bubba Wallace.

What is Root's business model?

Root uses technology and data science to provide personalized and fair insurance solutions.