Matt Bonakdarpour Elevated to President and Chief Technology Officer at Root

Root, Inc. (NASDAQ: ROOT), a leading technology company powering insurance solutions and the parent company of Root Insurance, announced today the promotion of Matt Bonakdarpour to President and Chief Technology Officer (CTO).

Since joining Root in 2018, Bonakdarpour’s exceptional leadership, innovative approach, and technical expertise have been instrumental in driving the company’s advancements in pricing and automation. With a background in computer science and statistics, Bonakdarpour has played a pivotal role in Root’s strategy by spearheading the development and deployment of statistical machine learning methods within the company’s telematics risk scoring, pricing, marketing, and more.

As Chief Technology Officer, Bonakdarpour leads the Data Science, Analytics, Engineering, IT, InfoSec, State Management, Marketing, and Pricing Actuarial teams at Root. Using modern quantitative methods, his teams facilitate systematic decision-making across the company. As the newly appointed President and CTO, Bonakdarpour has assumed a more comprehensive role, guiding the company’s prioritization and initiatives in support of profitability and growth.

“I am honored and excited to step into this role,” said Bonakdarpour. “I’m eager to work alongside Alex on our continued journey of disrupting the insurance world.”

CEO Alex Timm expressed his confidence in Bonakdarpour’s capabilities, stating, “Matt has consistently demonstrated strong leadership and strategic thinking beyond the realm of technology. The addition of President to his title is a well-deserved acknowledgment of Matt’s contributions and reflects the broader scope of his role within the company. I am confident that with Matt’s partnership, Root will continue to thrive as we grow and excel in our industry.”

Prior to joining Root, Bonakdarpour worked in the areas of high-frequency trading and statistical arbitrage. He holds a BS in Computer Science and Mathematics from Carnegie Mellon University and a PhD in Statistics from the University of Chicago.