On-Demand Insurance arrives in Brazil, powered by Trov & Sura
Written by Jeff Berezny May 27, 2020
We’ve been working together with Seguros Sura Brazil for the past several months and together we will be the first to bring on-demand, all-digital insurance products to the Brazilian market and then throughout Latin America. These products will be white-labeled for distribution by leading banks and digital retailers, and powered by Trov and Sura for technology and underwriting. See our official media announcement here.
As our exclusive launch partners in Brazil, Sura is promoting the news nationwide, along with a dedicated website. Click here to check it out.
The Opportunity in Brazil
Like many people around the world, the majority of Brazilians own valuables that they have with them at all times, whether it be a phone, laptop, tablet, camera, or bicycle. While at home or on-the-go, they often don’t have insurance that fits the way they live their lives as the only options are bulky traditional policies. Digital and flexible insurance products are particularly suited for the Brazilian market, and traditional insurance companies are not well equipped to provide this alone. In partnership with Sura, we are uniquely positioned to meet this need with our world leading insurance technology platform.
In 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. Trov 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.
Trov’s Insurance Technology Platform
There are five core pillars to Trov’s Insurance Technology Platform, which has now been deployed in the US, UK, France, Australia, Japan and soon Brazil. For those that don’t speak Portuguese (myself included), the five pillars are:
- Any Duration: By the second, minute, hour, day, month, or year.
- Any Risk: Home, renters, auto, gig, smb and more.
- Anywhere: Globally compliant, deployed in 4 continents.
- All Digital: End-to-end, mobile, cloud-hosted, user-centric.
- Data Powered: Data modifies coverage, making the experience and the insurance better.
Subscription + On-Demand
Similar to our renters insurance product in the UK with Lloyds Banking Group, our product with Sura in Brazil will be composed of a base monthly subscription for core coverages, and on-demand coverages for items that need more flexible protection. Our platform makes it easy to adjust insurance at any time, without the need to call an agent. When we launch, the experience will be white-labeled and embedded in the customer journeys of leading banks and digital retailers.
The Trov Claims Solution will also be making the trip to the sunny skies of Brazil as it continues to redefine what a claims experience should be. Trov puts the customer at the heart of the claims experience, with a digital FNOL, communications hub and settlement payout.
This is just a sneak peek of what Trov with Sura in Brazil will look like, which includes our world-leading user experience, from quote through to claim. We’re currently working hard with some very exciting distribution partners that will be the customer facing brand on the products. We’ll be launching in the coming months and it’s some of our best work yet! Stay tuned, we can’t wait to share it with you 🇧🇷.
Note, the insurance products and screens shown are for example purposes only.