Where we’re at
The last few weeks have been very hectic for all of us. The world is starting to come to grips with the severity of the global economic impact of COVID-19. But given the ongoing struggle to contain the virus in many parts of the world, the real impact is still uncertain and unpredictable.
In the light of many drastic changes, I wanted to give an update on where the Root Team is at.
Our entire team has been remote since 17 March. The transition was fairly easy, and our team has now settled into a great new rhythm – fully operational with no disruption to our services or support. I’m very grateful for the amount of grit and commitment of each of my team members.
What we’re focusing on
We’re following a few simple rules in the current situation: stay calm but alert, keep communication in the team clear and transparent, move fast and with focus.
Together with these principles, we’re hyper-focused on a basic plan:
- Keep our team safe and sound
- Take proactive steps to strap in financially
- Double down on powering more innovators at scale
We have team members executing on all three aspects of this plan, with clearly defined outcomes and timelines.
Innovation is no longer a luxury. It’s the only way.
The urgency and focus of our team speaks to the culture we have at Root. But it also speaks to the fact that our core mission at Root is now more important than ever: powering innovators in insurance.
We started building Root in 2017 because we realised that innovators are severely constrained by the lack of a standard insurance platform with a clean API - technology that gives teams the ability to easily develop and launch insurance products through customer-first digital channels. Giving teams access to this kind of technology has now become a life-or-death matter for businesses.
What we, together with the whole world, have learnt in the last 14 days, is that business-as-usual is over. The threat of fundamental disruption of the insurance industry is no longer lurking somewhere in the future. The insurance industry as a whole has been fundamentally disrupted. Innovation in insurance is no longer a luxury. It is the only way.
How Root powers innovators, right now
We’re keeping our ears to the ground to understand our customers’ changing pains and challenges in the face of COVID-19.
But right now, our platform and team are geared up to help enable the following:
- Digital sales and fulfillment of your existing products on a new digital channel, like a website, app or WhatsApp bot
- Launching a new highly relevant insurance product to your market
- Opening up cash-collections like debit-orders or SnapScan to get your insurance clients off your credit-book
We pride ourselves in helping clients get projects launched and in the market within weeks, instead of years. With sales through traditional call centres effectively flat-lining, this is now more important than ever.
Talking to others helps a LOT. Talk to us :)
Since the lockdown, we’ve made it a priority to speak to as many people as possible to understand how we can help innovators more. Everyone is surprisingly willing and eager to chat - thank you! :-D
This is helping us develop a deep understanding of the specific impact of COVID-19 on the insurance industry. We’ve learnt a ton from others - what they’re focusing on and how they’re addressing problems.
If you’re reading this, we’re super keen to chat to you. Get in touch!