SAN FRANCISCO, Oct. 30, 2019 /PRNewswire/ -- Trov (www.trov.com), a global leader in insurance technology, is announcing the upcoming launch of an innovative Personal Auto & Mobility Insurance product built on its Powered by Trov platform. This world-first product will launch in the coming months in partnership with Suncorp Group in the Australian market. Suncorp is one of Australia's leading insurers and a long-term Trov partner.
Built using the flexible, variable period, event driven architecture of its Powered by Trov platform, the new Personal Auto & Mobility Insurance application is designed to align with the evolving behaviors of auto-owners who have a growing number of options when choosing the way they get around.
"Traditional auto insurance is being challenged by the changing shape of modern mobility. The insurance solution being released by our long-time partner Suncorp is purpose-built to meet the evolving needs of today's commuter," commented Scott Walchek, CEO/Founder of Trōv. "The expansion of our Powered by Trov platform follows on the heels of our recent announcement with Lloyds Banking Group and reflects the market's growing appetite for full-service digital applications designed for today's connected consumer."
"Suncorp and Trov have a strong relationship built over many years of collaboration on the design and development of new insurance products utilizing the Trov technology platform, including on-demand single item cover. We are currently in the final phase of trialing our mobility insurance product that we are excited to launch at scale next year," said Nick Heggie, Commercial Partnerships, Suncorp. "We know consumers expect simple, engaging and rewarding experiences in everything they do. This new product will do this by evolving traditional auto insurance to include cover and rewards for different forms of mobility that are now an integral part of our customers' lives. We are excited to expand our partnership with Trov, and together explore how we can better meet our customers' changing needs in the mobility space."
With the expansion of its platform to Auto and Mobility, the San Francisco-headquartered technology company is solidifying itself as the preferred partner for insurers and financial enterprises seeking to keep pace with innovation by offering compelling, flexible, end-to-end digital insurance applications.
Trov is a world leading insurance technology company whose software enables the new ways people live, work, and move. Its white-label insurtech platform empowers financial institutions, insurance incumbents and leading consumer brands to rapidly deploy modern insurance applications designed for homeowners, renters, motorists and small businesses. Additionally, its technology-enabled brokerage combines powerful software with bespoke insurance products to solve the complex risk management challenges facing companies in emerging mobility and gig work. Trov's customers include global leaders such as Waymo (an Alphabet Company), Groupe PSA, Lloyds Banking Group and Suncorp, amongst others.
Founded in 2012 by serial entrepreneur Scott Walchek, Trov is backed by leading global VC's and strategic partners. The company is based in the San Francisco Bay Area and maintains offices in New York, London, and Tokyo. For more information, please visit www.trov.com.
Suncorp Group Limited is a leading financial services provider in Australia and New Zealand, enabling more than nine million customers to better protect and enhance their financial wellbeing.
Since 1902, Suncorp has grown to become a top-20 ASX-listed company with over 13,000 people and $96bn in Group assets.
Suncorp offers banking, wealth management and insurance products and services through brands including Suncorp, AAMI, GIO, Apia, Shannons, AA Life and Vero, as well as those from Suncorp's partners.