Trov Renews Relationship With PSA NA Car Sharing Solutions
Trov's new Risk Operations Technology complements PSA NA Car Sharing Solutions' commercial coverage helping them mitigate risk of both insured and uninsured incidents through real-time data
Dec 17, 2020, 09:11 ET
SAN FRANCISCO, Dec. 17, 2020 /PRNewswire/ -- Trov, a global leader in insurance technology, and Free2Move, the U.S.-based car-sharing service launched by PSA NA Car Sharing Solutions, today announced the continuation of their partnership for a third consecutive year.
In 2018 when PSA NA Car Sharing Solutions entered North America and Canada, Trov's Mobility Insurance Platform powered context-based insurance coverage for Free2Move, resulting in an immediate 30% cost reduction over traditional insurance offerings.
Trov Mobility has since evolved to provide Risk Operations Technology in addition to insurance coverage to Free2Move. With Trov's expanded offering, Free2Move benefits from a cost-effective commercial insurance program and powerful new software that turns over 70 million data points -- including vehicle, driver and road data -- into insights that allow them to efficiently monitor, manage, and mitigate risk in real time.
"We're really pleased to be renewing our program again with Trov," said Lynn Blake, Vice President Mobility, Free2Move. "The team has done so much more than keep our insurance costs down; they've transformed our view of risk with their Risk Operations Technology, which has become an irreplaceable tool our team uses on a daily basis. It not only streamlines our operations, but we're seeing as much as a 10% reduction in vehicle downtime through the use of the platform, allowing us to keep our vehicles on the road and generating revenue."
"We're delighted to continue our partnership with Free2Move for another year," said Ian Sweeney, SVP & GM, Trov Mobility. "We're proud to have contributed to Free2Move's growth by delivering a combination of insurance and Risk Operations Technology. We look forward to continuing our work together in Washington, D.C. and beyond."
ABOUT TROV:
Trov's Mobility Insurance Platform 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 enterprises such as Waymo (an Alphabet Company), PSA NA Car Sharing Solutions, Hyundai, Lloyds Banking Group, Sompo, and Suncorp, amongst others.
Founded in 2012 by serial tech entrepreneur Scott Walchek, Trov is backed by leading VC's and strategic partners. The company is based in the San Francisco Bay Area and maintains offices in New York and London. For more information, please visit our website.
ABOUT PSA North America Inc.:
PSA North America, Inc., formed in 2017, serves as the platform for Groupe PSA's return to the North American marketplace. Headquartered in Atlanta, GA, the entity currently provides Free2Move mobility and transportation services in conjunction with its PSA Car Sharing Services business unit. Through its Business Solutions unit, PSA NA provides all manner of consumer and business-to-business mobility support platforms, including car and ride sharing, vehicle sales, service, financing and independent aftermarket. In early 2019, PSA NA announced its intention to bring the Peugeot brand to the North American market within the coming years.
For media inquiries please contact:
Trov PR, [email protected] or Shane Smith, Pacific Communications Group, 424-903-3665
SOURCE Trov
