Root Inc. reported record levels for policies-in-force and revenue in the third quarter, with total revenue increasing by 27% year-over-year. The company's net earned premium grew by 29% over the same period. Root also noted that new writings from independent agents more than tripled year-over-year, supporting ongoing diversification in its Partnership channel. The company achieved a gross loss ratio of 59%, which remains below its long-term target range of 60-65%. Root attributed its performance to its technology-driven approach to pricing and underwriting.
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