Trōv, one of the oldest and best-known insurtechs, announced today that it has been acquired by The Travelers Companies, one of the leading providers of its technology. Many members of Trov's team have also joined The Travelers Companies team, which includes insurance products such as property casualty insurance for auto, home and business.
In short, Trōv is a global pioneer in embedded insurance powering the future of digital distribution. Its APIs and software enable it to rapidly deploy modern property and casualty insurance solutions in the home, auto, pet, small business and mobility areas. In addition to inspiring the transformation of the insurance industry over the last few years, it also supports this process by offering numerous digital solutions including on-demand insurance, micro-term policies and fully digital user experiences. Recently, the company released its built-in insurance platform, public APIs, and developer support tools to enable companies to distribute insurance products within their existing digital applications.
Trōv's Founder and CEO, Scott Walchek, states that the most important reason for their involvement in innovation processes in the insurance industry so far is their experience. “Over the past few years, Trōv has redesigned many components of the insurance value chain. Travellers is the ideal company to leverage our experience and take our technology to the next level. We all welcome this opportunity with enthusiasm,” Walchek said.
Trōv's team and embedded technology solutions announced that it will be positioned in the Personal Insurance division at The Travelers company. Michael Klein, President of Travellers Personal Insurance, said: "This is another example of how we invest in improving the experience for our customers, agents and partners. We are very excited about the significant innovations we are continuing, and Trōv's technology and talented team provide our customers with personalized solutions in channels of their choice. will help accelerate our ongoing efforts to deliver
For more information, you can visit www.trov.com.