AM I NEXT? NO LOVE AT ROOT INSURANCE (11/10/22)

NOVEMBER 10, 2022 — 20% REDUCTION IN WORKFORCE

In a second major layoff this year, the company appears to be transitioning from direct insurance sales to car buyers to policies presented by car dealers at the time of purchase.

The transition will impact 160 employees.

According to co-founder and CEO Alex Timm, "We are at the very beginning of a massive shift of auto insurance distribution, and we are at the tip of that spear. One thing has been made crystal clear: Root must control its own destiny."

JANUARY 28, 2022 — Original post…

Columbus, Ohio-based Root Inc., the nation’s first licensed technology-based insurance carrier powered entirely by mobile offerings of car and renter's insurance, has announced that it is undergoing a realignment that will impact approximately 20% of its workforce. 330 employees, mostly in the sales and claims departments, are targeted for layoffs.

According to Root CEO Alex Timm, "We are confident we are building an enduring organization poised for future growth. Our commitment to using differentiated technology to disrupt the car insurance industry remains core to everything we do. This refinement is critical to maintaining that commitment. I am deeply grateful to all Root team members, past and present, for their continued commitment to bringing our vision to life."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT SPRING VENTURE GROUP

Kansas City, Missouri-based Spring Venture Group, a consumer sales and marketing technology company specializing in online insurance comparison shopping, has confirmed 290 employees were laid off, including 197 employees located in Kansas City.

According to CEO Chris Giuliani, "We value every person at Spring Venture Group and the contributions each makes, so it's especially difficult to go through a restructuring. Moving forward, this restructuring will better align our organization with the demands of a highly competitive marketplace and allow us to continue executing our growth strategy to ensure the long-term health of our business as the Medicare market continues to grow rapidly. But these decisions are not easy, and it's emotional for those still with us and those that are not."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT HMSA

Honolulu, Hawaii-based HMSA (Hawaii Medical Service Association), an independent licensee of the Blue Cross Blue Shield Association, and is the largest insurer in the state of Hawaii, has announced plans to outsource some of the jobs currently being performed in Hawaii and Oahu.

The job realignment will impact approximately 285 employees and is scheduled to commence in January 2022.

According to a statement from HMSA President Dr. Mark Mugiishi, "New regulatory requirements and consumer mandates have forced the need for massive technology upgrades to maximize efficiency. So, it has been decided to partner with a company called Firstsource Solutions Limited."

Mumbai, India-based Firstsource Solutions Limited is an Indian business process management company specializing in technology solutions in the banking, financial services, healthcare, and insurance industries.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?