Root

An API-first, low-code insurance platform for building and managing digital insurance products at scale

Insurtech Infrastructure Growth Seed

Overview

Root is an API-first insurance platform that enables insurers, MGAs, retailers, and financial institutions to build, launch, and manage digital insurance products. The company is headquartered in Cape Town, South Africa, with offices in London, and focuses on markets across Africa, the United Kingdom, and Europe.

The platform provides a modular, low-code architecture with more than 500 open APIs covering policy administration, product configuration, premium collection, and business intelligence. Root packages compliance and regulatory requirements behind configurable interfaces, allowing customers to deploy insurance products without extensive custom development. The platform is delivered as cloud-based SaaS and supports omni-channel and embedded distribution models.

Root reports over 6 million in-force policies and more than 100 live insurance products across 20+ enterprise customers. The company has raised USD 4.5M in funding, including a USD 3M seed round in 2021 and a USD 1.5M growth investment from Invenfin (the venture arm of Remgro) in 2023 to support UK and European expansion.

Products & Services

Core Insurance Platform

Root's main product is a configurable, low-code insurance platform with 500+ open REST APIs. It allows insurers and distributors to design and launch insurance products with reduced engineering overhead.

Key Features

Modular architecture for policy lifecycle management including issuance, renewals, and cancellations
Product Workbench for low-code insurance product configuration
Premium collection and payment processing
Business intelligence and analytics tools
SOC 2 (ISAE3000) certified infrastructure

Target Users: Insurers, MGAs, banks, retailers, and financial services providers

Policy Administration System

Manages the full policy lifecycle including issuance, event tracking, premium billing, and data exports to external systems.

Key Features

End-to-end policy lifecycle management
Configurable event triggers and workflows
Data export and reporting capabilities

Target Users: Carriers and MGAs managing large policy books

Developer Portal and APIs

A self-service developer environment with documentation, API reference, and sandbox for integration and testing.

Key Features

500+ open REST API endpoints
Sandbox environment for testing
Comprehensive documentation

Target Users: Engineering and integration teams at insurers and distributors

Embedded Insurance Module

Enables distributors, retailers, and banks to embed insurance coverage into their existing products and customer journeys.

Key Features

Point-of-sale integration for embedded coverage
Omni-channel distribution support
Partnership enablement for affinity programs

Target Users: Retailers, banks, and financial services distributors

At a Glance

Founded: 2016
Headquarters: Cape Town, South Africa
Employees: 51-200
Funding: Seed

Category & Focus

Category: Insurtech Infrastructure
Subcategories: Insurance Platform Policy Administration Low-Code Insurance Embedded Insurance API Platform
Insurance Verticals: P&C Personal P&C Commercial Life & Annuity Specialty/E&S
Target Customers: Carriers, MGAs/MGUs, Brokers, Agents/Agencies