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Munich Re Sees Potential in Reinsuring Auto Insurance Startup Root
Root, an auto insurance startup, relies on telematics and a customer’s smartphone to deliver what it says will be significantly cheaper rates for the best drivers. It began officially doing business on Oct. 25 (in Ohio), and Munich Re is one of its reinsurers. Steven Levy, president of Munich Re America’s reinsurance division, spoke to Carrier Management Editor Mark Hollmer about Root and InsurTech trends in general, during the PCI Annual Meeting on Oct. 24 in Dallas.