Trov offers a web and mobile based applications to help users track possessions and assist in advising in wealth and estate planning, property management, insurance coverage, private social connectivity, asset disposition, charitable giving and more.
Trov is reinventing insurance for the mobile generation by making it simple, flexible and transparent. With the introduction of the world’s first on-demand, micro-duration insurance platform, Trov gives people the power to insure just what they want, exactly when they want, entirely from their mobile device. The Trov app also helps people easily organise important information about the things they own and back it up to the cloud, so it’s accessible when needed. In April 2016, Trov announced a $25.5m Series C funding round led by Oak HC/FT, with participation from Suncorp Group, Guidewire and existing investor Anthemis Group. Trov launched in Australia in May 2016, and will roll out in the UK later in 2016, before launching in the United States and other regions in 2017. Trov is headquartered in the San Francisco Bay Area.
PRODUCTS & SERVICES:
On-demand insurance platform to track and protecct the belongings
Brown and Brown Private Client Group, Costello and Sons, Fort Point, G.S. Levine, Lane McVicker and TDC
On-demand insurance platform to track and protect belongings
TOP PROBLEM SOLVED:
Trov is designed specifically for the mobile generation, who often find the constraints of traditional insurance incompatible with their untethered lifestyles. The 2015 World Insurance Report revealed that just 36 percent of millennials reported a positive experience with their traditional insurer in 2015, compared to 52 percent of other age groups. Trov represents an enormous opportunity for this group as it provides a far more flexible approach to insurance, whether they are heading to university, going travelling, working on-the-go, or simply wanting to protect something they love.
The platform exited beta in summer 2014 and has been steadily growing its installed base around the world, with over over $3 billion worth of item value currently stored in people’s Trovs. It has over $10 billion worth of items added and over 1,000,000 items added as of November 2016. Trov officially launches on-demand camera gear insurance at the 2017 photography show in Birmingham.