Insurtech Trōv is now offering its on-demand online, single-item insurance products in seven additional states and the District of Columbia.
Trōv has now expanded into Alabama, Arkansas, Georgia, Hawaii, Iowa, Michigan, Tennessee and Washington, D.C. The insurtech company had previously started doing business in the U.S. in Arizona and spread out into Nevada, Wyoming, Delaware, Iowa and South Dakota.
Trōv’s consumer application lets people insure single items including cameras and digital devices via their mobile device for just the period of time they want coverage.
Coverage takes effect immediately after a user turns protection on and can be turned off at any time, allowing users to pay only for the coverage they use. Items are protected against accidental damage, loss, mechanical breakdown and theft anywhere in the world.
Munich Re’s Digital Partners provides underwriting capital for Trov.
Chris Pappas, Trōv’s senior manager for Global Marketing and Communications, said in a blog on the company’s website that Trov is also expanding into the gig economy, fleet mobility and “last-mile” transportation (i.e., scooters and bikes), and passengers and items traveling in autonomous vehicles.
He said the company will be announcing new products, partnerships and states later this year.
Trōv launched in Australia in May 2016, where it is underwritten by Suncorp, and the U.K. in December 2016, where AXA is its underwriting partner. It maintains offices in the San Francisco area and New York City.
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