Root Platform (Root), South Africa’s low-code, API-first insurance coverage innovation platform, has actually designated Alex Astengo as UK Country Manager, based in London to lead the company’s UK growth.
Alex has actually worked for SaaS platform-based companies that offer options to insurance providers, handling basic representatives (MGAs) and brokers. He just recently dealt with UK’s Cloud Insurance where he was the Head of Sales. Alex was previously Chief Commercial Officer for SchemeServe Insurance Software.
According to Louw Hopley, CEO and Founder, Root: “Bringing Alex in is actually interesting for us. We waited on the best chance to get in the UK market and, now we have, Alex will spearhead our UK abilities in regards to offering business with the required foundation to run a contemporary insurance coverage program. He brings a wealth of extremely pertinent market experience to our company and we are pleased to invite him to the Root group.”
Root released in the UK in 2023 in collaboration with Connect by Admiral after raising $1.5 million from South Africa-based InvenfinAs a UK Country Manager, Alex will be entrusted with establishing Root’s UK existence to make it the go-to platform for insurance coverage and too grow its digital insurance coverage offerings. Root went into the UK insurance coverage market in 2023 and revealed a tactical collaboration with Connect by Admiral, establishing an ingrained insurance coverage platform to provide third-party customers an insurance coverage service for its consumers at the point of sale. He will now be entrusted with pitching Root’s low-code, API-first platform to insurance providers, sellers, banks and telcos.
“I am pleased to sign up with Root in what is an interesting time for business as it looks for to broaden its existence in the UK. My experience in dealing with SaaS platform-based services has actually taught me that the insurance coverage market is poised for– and in requirement of– modification, and Root can play a substantial function in causing significant and favorable modification for the advantage of business and their clients,” stated Alex Astengo, Country Manager UK.
Root, released through a collaboration with MMI Holdings, has actually constructed a relied on collaboration with Invenfin given that they bought business 2 years earlier, and appropriate partners in their development technique specifically as the business scales up globally. Root’s API makes it possible for third-party designers to quickly access digital insurance coverage licenses and insurance coverage and banking-related items for a fast launch.
In November 2021, Root raised $3 million in seed financing from its main financiers Invenfin, Base Capital, Savannah Fund, P1 Ventures, Luno, and FireID, a choose group of high-impact angel financiers participated to broaden into Europe. It’s most current financing round seals its growth and development strategies.
Established in 2016, Root provides a low-code platform that powers contemporary digital insurance coverage items developed for direct, affinity and ingrained circulation at scale. In 2021, the business raised its very first external financing round to accelerate its growth strategies in the UK and Europe. It’s previous invest rounds weren’t divulged!