Trov-Travelers-Seamless

Our News: Our Technology and Team Members Have Become Part of Travelers!


I am pleased to share that today our technology has been acquired by Travelers, a leading provider of property casualty insurance for auto, home and business, and most of our team members will continue their work as they join Travelers. The combination will take Trōv’s unique embedded insurance capabilities to the next level.

The path leading up to today’s news has been well documented and lends shape to the contour lines of insurtech’s formative years. Since Trōv’s formation in 2012, we’ve designed and released technologies and applications that promoted more efficient distribution, improved engagement for the modern consumer, and challenged the boundaries of the insurance industry. Our world-first on-demand insurance application launched in four countries between 2016 and 2020. With “swipe-to-protect” simplicity and protections that were calculated with to-the-second accuracy, Trōv enabled modern consumers to interact with protections in ways never before possible and helped spark insurance’s digital transformation.

In 2018, encouraged by incumbents seeking to reimagine their product engagement for the digital consumer, we built full-service, end-to-end applications that were brought to market by carrier partners. During that time, we launched two innovative applications that offered new ways to engage protections alongside traditional coverages: a renters insurance application that also enabled users to schedule individual items on-demand for any duration, and a motor insurance application that automatically discounted a monthly premium when users chose alternative forms of transportation. Around that same time, we launched our Mobility platform that collected millions of data points from connected vehicles to periodize risk and help emerging mobility (car-share, autonomous vehicles, and scooter- and bike-share) operators reduce their fleet operation costs by assigning premium based on a vehicle’s real-time risk profile.

Sharpening our focus in 2020, we developed our Embedded Insurance Platform (EIP), which launched in June 2021. Combining our technology, experience, licenses, capacity relationships, and industry brand, the EIP was designed to enable the distribution of any P&C insurance product by any company with a digital presence. We believe that there is tremendous potential in embedded insurance, and we’re in its very early stages. Delivering insurance products to customers is a compelling proposition for digital consumer brands that need new offerings. However – with the exception of a few newly financed start-ups – experienced, reliable, solid purveyors of embedded insurance are limited.

Our team and embedded technology solutions will be positioned within Travelers’ Personal Insurance segment. Travelers has demonstrated leadership in customer-first digital solutions and is the perfect partner to take our technology to the next level – all of us at Trōv are leaning into the opportunity with enthusiasm.

Some of us will assist the teams during a brief transition period, and following that, I’m looking forward to a few months off-piste to consider what’s next. While idiosyncratic risk has framed my past 30 years, I hope to activate my experience in service to incumbents and entrepreneurs across diverse verticals. In the meantime, I’m genuinely excited to watch what the Trōv team – now alongside Travelers – will deliver to the market. 

Scott