Hyundai Capital Partners with Root for Personalized Insurance

Hyundai Capital America (HCA) has partnered with Root, the parent company of Root Insurance, to enhance the vehicle ownership experience for its customers by providing personalized insurance options. This collaboration combines Root's technological expertise and customer-focused insurance models with HCA's auto financing capabilities. The goal is to meet the demands of the auto finance and insurance sectors with personalized insurance options that are based on data-driven rates.

HCA serves the financial services needs of Hyundai Motor America, Genesis Motor America, and Kia America, offering financing products through brands like Hyundai Motor Finance and Kia Finance America. HCA's CEO Marcelo Brutti emphasized the company's commitment to innovation and technology aimed at improving the customer experience. Root's CEO Alex Timm expressed excitement over the partnership, highlighting the shared dedication to customer-first solutions and the potential to diversify and expand insurance offerings for HCA drivers.

In financial news, Root reported substantial growth with a net income of $31 million for 2024, a significant increase from the previous year, and a notable rise in operating income and gross premiums written, indicating a strong performance and growth strategy as they broaden their market presence in partnership with HCA.