Columbus, Ohio-based Root Inc. (ROOT) is a provider of online insurance services. More specifically, it is a direct-to-customer provider of insurance coverage for autos, renters, and homeowners, and Root's mobile app claims to gather and analyze real-time driving data from customers in order to provide the most accurate insurance quotes. That places Root squarely in the “insurtech” market niche, which - similar to fintech - aims to revolutionize the insurance industry with new technological advances.
Root’s stock has been breaking out this year, with the stock up an astonishing 675% on a year-to-date basis. The shares set a new 52-week high earlier today, but still trades about 85% below all-time highs.
