3 July 2018Insurance

Munich Re-backed insurtech Trov launches in the US

California-based insurtech firm Trov has begun to roll out its on-demand insurance offering in the US a year after having received regulatory approval.

Trov had received approval for its on-demand insurance services from regulators in 23 US states in July 2017.

The insurtech firm enables users to buy insurance for specific products, for specific amounts of time through their smartphones. Users can turn insurance on and off with a swipe and also file claims through the app. Insurable items include headphones, wearables, phones, laptops and photography gear.

Trov's on-demand insurance roll-out in the USA is starting with Arizona. The company already operates in Australia and the UK.

Munich Re has invested in Trov and agreed to expand its strategic alliance with Trov to include underwriting throughout Europe, Asia and South Africa.

If you enjoyed this story and have an interest in Insurtech, join us at Intelligent InsurTECH Europe 2018, the only insurtech event with dedicated streams for CXOs, Data/Analytics, and Claims. Find out more here.

More of today's news Zurich appoints new head of Oak Underwriting following takeover Insurtech Bought By Many closes £15m Series B funding round TMK unveils $100m IP facility with Aon, Lloyd’s syndicates Munich Re-backed insurtech Trov launches in the US CCRIF names ECCB governor as new chairman New MGA Hive Aero poaches class underwriter from Talbot Allianz launches €1bn share buy-back programme

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