Trov, an insurtech firm based in California, US and backed by Munich Re, is officially launching in the US. It will now roll out its on-demand travel insurance offering a year after having received regulatory approval.
Trov’s product allows customers to purchase insurance for specific products, such as headphones, laptops, wearables and cameras, for tailored lengths of time utilising smartphones. A swipe can activate and deactivate coverage, and the app can also be used to file claims.
The firm already operates in the UK and Australia, and will begin its US roll-out with the state of Arizona. Munich Re, an investor, has said that its strategic partnership with Trov will be expanded, with underwriting services provided in Europe, Asia and South Africa.