On-demand insurance platform Trov has entered the Brazilian market with a new partnership with Seguros Sura Brazil.
The companies have been working together for the past several months and will help Trov enter Brazil and then across Latin America.
Its products will be white-labelled for distribution among banks and digital retailers.
Trov stated that Brazilians do not have easy access to flexible insurance products for valuables they take outside, like laptops, mobile phones, cameras and bicycles. It aims to solve this.
The insurance products will be based on a monthly subscription which can be adjusted to meet the needs of the user.
In a blog post, Trov said, â€œIn the midst of the global pandemic, the importance of flexible, all-digital policies is further amplified at a time when many consumers and businesses may be locked into lengthy insurance policies that are difficult to adjust and may not meet their changing needs.
â€œTrov is committed to providing insurance technology products that put the customer in control of their insurance by enabling them to easily purchase just the coverage they need, when they need it, all digitally.â€
The InsuTech platform is currently available in the US, UK, Australia, France, Japan and now Brazil. It offers on-demand insurance for renters, single items, small businesses and vehicles.
Late last year, Trov partnered with Sompo to launch Mobility Solutions, a new insurance solution tailored towards the micro-mobility, car-sharing, ride-hailing and autonomous vehicle industries.
The partnership sees Trov use its Vehicle Activity API to identify risks and create new experiences based on the data received from connected vehicles and devices.
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