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    Charlie Rodgers

    Research Analyst at Jefferies

    Charlie Rodgers is an Equity Research Associate at Jefferies, specializing in U.S. financials and bringing a robust analytical background to equity research. Since joining Jefferies in June 2022, Rodgers has leveraged previous experience with RS Investments analyzing healthcare, pharmaceutical, and technology companies, as well as a corporate finance role at iRhythm Technologies. Rodgers began their professional journey with committee leadership at UNC Kenan-Flagler and earned both an MBA and BS in Business Administration from UNC Kenan-Flagler Business School, along with a BA in Economics & Entrepreneurship from the University of North Carolina at Chapel Hill. While formal performance metrics and securities licenses are not publicly listed, Rodgers is recognized for strong fundamentals and industry-relevant credentials.

    Charlie Rodgers's questions to Root (ROOT) leadership

    Charlie Rodgers's questions to Root (ROOT) leadership • Q2 2025

    Question

    Charlie Rodgers, on behalf of Andrew Anderson at Jefferies LLC, asked about the differences in new business penalty, frequency, and severity between the direct and partnership channels. He also inquired if the demand pull-forward from Q1 reversed in Q2 and asked for an update on the company's state expansion pipeline following the approval in Washington.

    Answer

    Co-Founder and CEO Alex Timm explained that the new business penalty is slightly higher in the direct channel but the difference is not massive. He noted the partnership channel's mix is more preferred, leading to slightly elevated severity, but not enough to materially impact the blended loss ratio. Timm confirmed the Q1 demand pull-forward created some headwinds in Q2. He clarified that while the product filing in Washington was approved, the state has not yet launched, and other state filings are pending in the public domain.

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    Charlie Rodgers's questions to Root (ROOT) leadership • Q1 2025

    Question

    Charlie Rodgers, on behalf of Andrew Andersen at Jefferies, questioned the expected contribution from new partnerships like Hyundai Capital America and Experian, and sought clarity on the drivers behind recent frequency and severity trends.

    Answer

    CEO Alex Timm explained that new partnerships typically take time to ramp up and that Root is in the early stages with its newest partners, promising more details as they progress. On loss trends, Timm noted that recent frequency and severity figures were within their expectations. He attributed some of the dynamics to a mix shift toward more preferred customers, particularly from the partnership channel, which tends to have lower frequency and higher severity, a factor he stated is accounted for in their pricing models.

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    Charlie Rodgers's questions to Root (ROOT) leadership • Q4 2024

    Question

    Charlie Rodgers of Jefferies, on for Andrew Andersen, questioned the 2025 advertising spend strategy, which channel offers better returns between direct and embedded, and whether channel dynamics will remain consistent amid rising competition.

    Answer

    CEO Alex Timm explained that increased acquisition spend is moving to more mid- to upper-funnel channels like YouTube and direct mail, but with the same rigorous, data-driven ROI discipline as lower-funnel efforts, not for general brand awareness. He noted both direct and embedded channels operate at target returns, with different cost and retention profiles. Timm expects the dynamics between the channels to remain consistent through 2025, anticipating a fairly stable competitive environment despite a slight increase in Q4.

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    Charlie Rodgers's questions to Skyward Specialty Insurance Group (SKWD) leadership

    Charlie Rodgers's questions to Skyward Specialty Insurance Group (SKWD) leadership • Q4 2024

    Question

    Charlie Rodgers, on behalf of Andrew Anderson at Jefferies, asked for color on the slowdown in submission flows and any changes in conversion ratios, as well as an update on the commercial auto portfolio remediation.

    Answer

    CEO Andrew Robinson advised not to over-interpret the submission flow moderation, stating it reflects normal quarterly fluctuations and that they are not concerned. He reported no notable changes in quote or bind ratios. He also confirmed that the remediation of the commercial auto portfolio will be complete by the end of Q1 2025.

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