Munich Re backed on-demand insurtech Trov expands in US
Munich Re-backed insurtech firm Trov is expanding its on-demand insurance offering to four additional states in the US.
The expansion follows Trov's launches in the UK and Australia, and its first US roll-out in Arizona. Trov had received approval for its on-demand insurance services from regulators in 23 US states in July 2017.
Starting this year, Trov will also be available in Delaware, Nevada, South Dakota, and Wyoming. It will provide tailored insurance technology for companies innovating in the mobility space, including self-driving vehicles, ride-hailing services, and bike sharing, as well as for sports gear and photography equipment etc.
Trov offers on-demand insurance, enabling 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.
Earlier in April 2017, the California-based startup received $45 million in Series D funding led by Munich Re through its venture capital arm HSB Ventures.
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