Chip Ganassi Racing and Root Insurance Strike Multi-Year Partnership



Posted on 02/15/2024

Chip Ganassi Racing and Root Insurance Strike Multi-Year Partnership

Chip Ganassi Racing and Root, Inc. (NASDAQ: ROOT), the parent company of Root Insurance Company, announced today a multi-year partnership agreement that will have Root join forces with the reigning and 15-time NTT INDYCAR SERIES champions who won nine races last season.

Root will carry primary branding at select races on the No. 11 Honda driven by 2023’s Rookie of the Year, Marcus Armstrong, and the No. 10 Honda of reigning two-time champion Alex Palou.

“We are happy to bring Root on board for 2024 and beyond,” said Chip Ganassi. “In our discussions with their leadership team, we were quite impressed by their innovative business model and their plans for the partnership. We are looking forward to working together toward our common goals.”

Root was founded in 2015 on the principle that car insurance rates should be based primarily on driving behaviors, not demographics. The Columbus, Ohio-based company has revolutionized the auto insurance industry by using mobile technology and data science to offer fair, personalized rates to good drivers. Root is a mobile-first, full-service insurance carrier that is currently available in 34 states.

“We are excited to partner with Chip Ganassi Racing and explore all the opportunities it provides,” said Root’s SVP of Business Development, Jason Shapiro. “As a leading technology brand, Root is always looking to find partnerships that align with our vision for providing a better car insurance experience. Chip Ganassi Racing’s culture of success and winning is a great fit with the success and disruption that Root is making in insurance.”

Chip Ganassi Racing and Root embark on the road ahead with shared fundamental values that will be exhibited on and off the track, including the pursuit of pushing boundaries, building trust, and delivering impact.

Marcus Armstrong will showcase the new primary livery for the first time at Barber Motorsports Park on April 28, piloting the No. 11 Root Insurance Honda.