Insurtech Trōv is now offering its on-demand online, single-item insurance products in seven additional states and the District of Columbia. Trōv has now expanded into Alabama, Arkansas, Georgia, Hawaii, Iowa, Michigan, Tennessee and Washington, D.C. The insurtech company had previously started doing business in the U.S. in Arizona and spread out into Nevada, Wyoming, Delaware, Iowa and South Dakota. Trōv’s consumer application lets people insure single items including cameras and digital devices via their mobile device for just the period of time they want coverage. Coverage takes effect immediately after a user turns protection on and can be turned off at any time, allowing users to pay only for the coverage they use. Items are protected against accidental damage, loss, mechanical breakdown and theft anywhere in the world. Munich Re’s Digital Partners provides underwriting capital for Trov. Chris Pappas, Trōv’s senior manager for Global Marketing and Communications, said in a blog on the company’s website that Trov is also expanding into the gig economy, fleet mobility and “last-mile” transportation (i.e., scooters and bikes), and passengers and items traveling in autonomous vehicles. He said the company will be announcing new products, partnerships and states later this year. Founded in 2012 by serial entrepreneur Scott Walchek, Trov is backed by leading global VC’s and strategic partners. The company is based in the San Francisco Bay Area and maintains offices in New York, London, and Tokyo. Source: Trōv Get the latest insurance newssent straight to your inbox.
Insurtech insurance has expanded into Alabama , Arkansas , Georgia , Texas , Texas , Michigan , Tennessee and Washington , DC with its on - demand , single item insurance products . The company began manufacturing operations in Arizona , before spreading to Nevada , Wyoming , Delaware and South Dakota . Trov ’s product allows users to insure specific items for adjustable periods of time , with users only paying for the coverage they use . The insurtech is partnered with Munich ##rov ’s premium Partners for underwriting capabilities , and will be expanding into gig economy , fleet mobility and other types of niche life insurance with new products to be released this year .