InsurTech Trōv’s technology has been acquired by The Travelers Companies, a leading provider of property casualty insurance for auto, home and business.
Trōv has introduced numerous digital solutions into the insurance industry in recent years, including on-demand insurance, claims-chat, micro-duration policies, and all-digital user experiences. Most recently, the company launched its embedded insurance platform, public APIs, and developer support tools to enable companies to distribute insurance products within their existing digital applications.
Scott Walcheck, founder and CEO of Trōv, attributes the transaction to the company’s years of experience at the forefront of insurance innovation and credits Trōv’s team and partners for successfully introducing technologies and experiences that produced material change in the insurance industry.
“Over the past several years Trōv has reimagined many components of the insurance value chain. Travellers is the ideal company to harness our experience and take our technology to the next level. All of us are leaning into this opportunity with enthusiasm,” Walcheck said.
Copyright © 2022 FinTech Global
