Root Extends Embedded Partnership With Carvana Through At Least August 2028
(RTTNews) - Root, Inc. (ROOT), a car insurance provider, announced the extension of its exclusive embedded partnership with Carvana (CVNA).
In 2022, Root and Carvana launched 'Carvana Insurance Built with Root', an industry-first embedded insurance product that seamlessly integrates personalized coverage into the car-buying journey.
The agreement extends the partnership through at least August 2028, reinforcing a technology-driven collaboration that still reshapes the automotive and insurance customer experience.
According to the company, the partnership transformed car buying by making insurance simpler, faster, and more intuitive. In under four years, it surpassed 200,000 policies, combining Carvana's customer experience with Root's data science to deliver an industry-first, 3-click insurance purchase at checkout.
On the Nasdaq in the after-hours activity, the shares of Root traded 1.62 percent higher at $55.99, after closing Tuesday's regular trading 0.70 percent down.
In the overnight activity on the NYSE, Carvana shares were trading 0.46 percent lower at $71.85, extending the 1.74 percent drop at Tuesday's close.
