Trōv: An entirely new way to insure the things people care about
Trōv, ranked 5th in 2016’s top insurance tech-start-ups to watch, is a data collection application and digital insurance platform combined into one. It completely reinvents the way people insure their belongings. It harnesses information about all their items and lets the owner choose which things they care to insure for any desired period – a year, a month, a week, a day, an hour… Trōv will launch the world’s first on-demand insurance platform in Australia and the UK in the first half of 2016. We are proud to have the premiere at DIA Barcelona.
Swipe to protect
By moving the entire insurance process to the smart phone, getting insurance becomes very simple. Trōv’s signature feature is ‘swipe to protect’. This makes turning insurance protection on and off very easy. What’s more, with a simple swipe on their phone, users can easily protect just the items they want through single-item coverage, for exactly when they want and for as long as they need coverage. Trōv provides micro-duration policies (to the second) and charges micro-premiums (to the cent). Whether users are at home or on the go, their things are protected against accidental damage, loss or theft. Chat robots manage the claims, so claims are easy to report with a few taps on the phone and processed in minutes, instead of days or weeks.
The Trōv mobile app automatically organizes information about the things people are buying, including receipts and market values, and stores it securely in the cloud. Trōv is powered by unique technology and integrated with leading databases across the globe. The beauty of this is that instead of all that information floating around in the vast digital galaxy, untapped and unvalued, it is corralled and organized inside a personal digital locker, the Trōv. Already over 8.2 billion USD worth of items are added to Trōvs globally. Trōv users can quickly access details about their belongings when they need them – which is particularly important when making an insurance claim.
Why we selected Trōv for DIA Barcelona
We selected Trōv to show and tell at DIA Barcelona because in our view Trōv is one of the most provocative concepts that targets a segment that is so difficult to reach for insurance incumbents: the millennial generation. In the US, 87% of people under 35 have no home contents insurance. For them insurance is almost a luxury item: too complex, too time consuming to purchase, too general and without direct benefits. Trōv addresses a latent pain point. Current home insurances are about averages, one size fts all. By connecting people to the information about their belongings and presenting them with valuable ways to use that data, Trōv aims to become a ‘must-have’ lifestyle app.
Who is Trōv
Scott Walchek, Founder and CEO of Trōv, is an entrepreneur, investor and philanthropist with multiple successes in interactive media, emerging internet technologies, financial technology, and venture capital. But above all Scott is a family man pur sang. In 2015 Trōv partnered with Suncorp, one of the world’s most innovative insurance companies. Trōv is backed by Anthemis Group, the high profile fintech investment firm. “Facebook captures what we’re doing. Pinterest captures what we want. Foursquare captures where we’ve been. Trōv captures the valuables we own. The possibilities are almost endless when you talk about what can be accomplished by collecting and putting a value on those things.” Scott Walchek, Founder and CEO Trōv
Presenting at DIA Barcelona Mitch Doust, Business Development
Contact info Business Development Sales: Mitch Doust, Business Development, [email protected]
Press/Media: Jeff Berezny, VP Marketing & Communication, +1 925 394 6010, [email protected]