• Local insurtech firm Root Platform has announced the appointment of a UK country manager.
• The firm expanded into the UK last year and this week appointed Alex Astengo as the UK country manager.
• The UK insurtech market has lots of potential for growth and Root is looking to capitalise on that.

Cape Town-based insurance technology (insurtech) firm, Root Platform, has announced a new appointment as it seeks to expand its reach further into the UK market.

The firm has appointed Alex Astengo as the UK country manager for Root Platform. This appointment aims to develop Root’s presence in the UK and become the go-to platform for insurance companies looking to grow their digital platform.

Root has been in the UK since last year after announcing a partnership with Connect by Admiral. Per a press release sent to Hypertext, Astengo is already in further partnership discussions with insurers, retailers, banks and telcos to provide a low-code, API-first, end-to-end technology across the UK.

“Bringing Alex in is really exciting for us. We waited for the right opportunity to enter the UK market and, now we have, Alex will spearhead our UK efforts to provide companies with the necessary building blocks to run a modern insurance programme. He brings a wealth of highly relevant market experience to our business and we are delighted to welcome him to the Root team,” chief executive officer and founder of Root, Louw Hopley, said of the appointment.

According to a 2023 report from McKinsey & Co. the UK’s insurtech market is worth an estimated $20 billion. There are an estimated 280 insurtech firms in the region and according to the report, there is optimism about the potential for growth in the sector.

This bodes well for Root’s goals and Astengo brings with him a wealth of expertise and experience. Before joining Root, Astengo was the head of sales for Cloud Insurance before which he served as Chief Commercial Officer at cloud SaaS platform for brokers, SchemeService Insurance Software.

“My experience in working with SaaS platform-based businesses has taught me that the insurance industry is poised for – and in need of – change, and Root can play a significant role in bringing about meaningful and positive change for the benefit of companies and their customers,” Astengo said.

“I am delighted to join Root in what is an exciting time for the business as it seeks to expand its presence in the UK,” the country manager added.