Founded in 2012 and based mostly within the San Francisco Bay Area, Trōv started as a direct-to-consumer cellular insurance coverage platform. Through the corporate’s proprietary app, customers might buy insurance coverage on-demand for single objects; the app was beforehand made out there to make use of within the US, the UK, and Australia. Trōv first launched its on-demand insurance coverage coverage within the US in 2018 and it was initially made out there for patrons in Arizona.
Read extra: Trōv launches on-demand insurance coverage coverage within the US
But in 2019, Trōv modified gears and turned to a business-to-business mannequin, shutting down its consumer-facing operations. It then started to supply on-demand insurance coverage to corporations comparable to Lloyds Banking Group, PSA, Suncorp, Waymo, and Zerology.
Read extra: Trov chosen to supply on-demand insurance coverage for electrical rideshare firm Zerology
Trōv most not too long ago launched its embedded insurance coverage platform, public APIs, and developer assist instruments, which permit insurers to simply distribute merchandise inside their present digital purposes.
“Over the past several years Trōv has reimagined many components of the insurance value chain. Travelers is the ideal company to harness our experience and take our technology to the next level,” said Trōv founder and CEO Scott Walchek. “All of us are leaning into this opportunity with enthusiasm.”
A launch mentioned that the Trōv workforce and its embedded know-how options will likely be folded into Travelers’ private strains insurance coverage section.
“This is yet another example of how we’re investing to enhance the experience for our customers, agents and partners,” said Travelers president of personal insurance Michael Klein. “We’re excited about the important innovation we have underway, and Trōv’s sophisticated technology and talented team will help accelerate our ongoing efforts to provide customers with personalized solutions in their channel of choice.”