US-based car insurance company Root has secured the premium domain name Root.com. Founded in 2015, the app-based company has quickly gained public attention with personalized, affordable coverage and services like free Lyft credits. Root went public in 2020, raising almost three-quarters of a billion dollars.
Alex Timm, the company’s founder, has credited his father with inspiring him to start his own insurance company, and given that family values are the foundations of the next generation, it’s no surprise that he chose his company to be named Root Insurance.
My father was an executive at Century Insurance [and] I started when I was 14, working in an actuarial department doing reserve development on E&S lines of business. Right away I really had a big passion for it.Alex Timm for CarrierManagement
The company launched on the JoinRoot.com domain name, they’ve also secured RootInsurance.com. Using call-to-action verbs like “get” and “join” is commonly seen among startups as the added word does not alter the meaning of the brand name and offers much more availability at a lower cost. Adding descriptive words are another common way to get a domain name that’s available and on a budget. Root have done both, a sign they were taking domain names seriously, even before they could invest in their exact brand match name.
Being in the financial sphere, trust and loyalty are crucial for startups like Root. More than 70% of brands in the fintech space have invested in .com domains exactly matching their brand.
Investing in Root.com opens a wide range of opportunities for the business – they are no longer limited to Insurance only as a sphere of activity. It also signals strength and shows to clients, investors and business partners that Root is here to stay.
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