Hyundai Capital America (HCA) has announced a strategic partnership with Root, an AI-driven auto insurance company, to offer tailored automotive financial products and services to customers.
On April 3, Hyundai Capital America stated that the partnership aims to deliver innovative automotive finance and insurance solutions by combining HCA’s expertise in auto financing with Root’s mobile technology and customer-centric insurance model. As part of the collaboration, the companies plan to introduce a data-driven auto insurance product that offers competitive pricing to Hyundai Capital America customers.
Root, founded in 2015, is an insurtech company that leverages AI to analyze driving behavior and provide highly personalized auto insurance policies. Customers install the Root app and undergo a test-driving period of approximately two to three weeks. Based on real driving data collected during this period, Root determines customized insurance premiums.
Marcelo Brutti, CEO of Hyundai Capital America, commented, “This partnership will unlock new possibilities and enhance services for drivers.” Meanwhile, Alex Timm, Founder and CEO of Root, stated, “We aim to strengthen auto insurance offerings for Hyundai Capital America customers while diversifying our distribution channels.”
Hyundai Capital America is the captive finance company of Hyundai Motor Group and plays a key role in supporting Hyundai and Kia’s sales in North America.
