Mobility: Trov’s Upmarket, Multimodal Insurance Range unveiled
The on-demand per-item insurance pioneer, Trov, teams up with the Australian financial institution Suncorp. The idea is to feature a new insurance offer for tracking their customers throughout their journeys, regardless of the transportation mode.
Goal: expand their services based on a white label platform Powered by Trov and the Suncorp distribution network.
The offer called Pilgrim was designed to feature an individual customer-oriented car insurance providing coverage suited to manufactures’ preferences when it comes to mobility (carpooling, bikes, scooters, etc.).
Pilgrim will be the third app from the Trov’s Insurance-as-a-Service platform. With their flexible architecture and cutting-edge AI-powered technology, the InsurTech highlights car insurance services including coverage and rewards applied to several types of mobility choices.
This offer will first be addressing the Australian market. Following an ongoing test phase, a large-scale would be scheduled for next year.
Helping mobility-oriented insurance offers evolve. Typical car insurance offers are challenged by today’s evolving mobility services. Even the latest insurance solutions, including “Pay How You Drive” options by Root or Pay as You Drive by Metromile, don’t take the multitude of alternative transportation modes into accounts. The InsurTech claims they intend to change this and contribute to changing the car insurance industry to better meet drivers’ needs for change.
Reinforcing their strategy. Through this means, the Californian InsurTech would want to strengthen their position as privileged partner respecting insurance groups and financial institutions. After Lloyds Banking in the UK and Bic Camera in Japan, the Australian group Suncorp now bets on Trov’s technology to feature innovative insurance services.
In June this year, the British InsurTech took a leave from the BtoC market. Their partnership with Suncorp confirms a strategic shift: from alternative retail insurance offers to a “Powered by Trov” service provider.