Root improves Q1 gross accident period loss ratio 13 pts as GPW drops 28%

Published: Thu 4 May 2023

Root has reported an improved first quarter gross accident period loss ratio of 69 percent while gross premiums written fell to $134.7mn, with the auto insurtech expecting continued contraction in top-line and policy-in-force counts through 2023 as it continues to take rate to keep up with severity and frequency loss trends.