From Technical Innovator to Strategic Leader: Matt Bonakdarpour's Expanded Role at Root

In a significant leadership move, Root, Inc. (NASDAQ: ROOT) has announced that Matt Bonakdarpour, who has been instrumental in shaping the company’s technological capabilities since 2018, has been promoted to President and Chief Technology Officer. This elevation marks a pivotal moment in the company’s evolution, as Bonakdarpour transitions from leading technology initiatives to steering company-wide strategic priorities.

The Journey Behind the Promotion

Bonakdarpour’s trajectory at Root demonstrates the impact of combining deep technical expertise with strategic business acumen. Over the past six years, he has been a driving force behind the development and implementation of advanced statistical machine learning systems. His work has enhanced Root’s capabilities across critical areas including telematics risk scoring, pricing optimization, and marketing analytics. With a PhD in Statistics from the University of Chicago and a BS in Computer Science and Mathematics from Carnegie Mellon University, Bonakdarpour brought both theoretical rigor and practical innovation to every project he undertook.

Prior to joining Root, he accumulated valuable experience in high-frequency trading and statistical arbitrage, gaining insights into data-driven decision-making that would prove essential in the insurance technology space.

Expanded Responsibilities and Vision

As the newly appointed President and CTO, Bonakdarpour now oversees a comprehensive portfolio spanning Data Science, Analytics, Engineering, IT, InfoSec, State Management, Marketing, and Pricing Actuarial teams. This broader mandate reflects his readiness to guide not just technological innovation but also operational excellence and strategic prioritization. His teams leverage modern quantitative methods to enable systematic decision-making across the organization, positioning Root for sustained growth and profitability.

Leadership Confidence and Future Direction

CEO Alex Timm emphasized the confidence Root places in this appointment, noting that Bonakdarpour has consistently demonstrated leadership qualities that extend well beyond the traditional scope of technology management. The recognition of his contributions through this expanded role signals the organization’s commitment to elevating technical leaders who can bridge the gap between innovation and business strategy.

Bonakdarpour himself expressed enthusiasm about the opportunity, stating his eagerness to collaborate with executive leadership on Root’s mission to revolutionize the insurance industry through technology and data science.

Root’s Position in InsurTech

Founded in 2015 and headquartered in Columbus, Ohio, Root has established itself as a disruptive force in insurance technology. The company’s platform has achieved nearly 13 million app downloads and accumulated over 25 billion miles of driving data, creating a rich foundation for personalized and fair insurance offerings. With Bonakdarpour’s expanded leadership, Root is well-positioned to leverage this competitive advantage for continued market innovation and growth.