Trōv Mobility Proudly Introduces Risk Operations

For most industries, 2020 has been a year full of unusual twists and turns. However, despite the challenges, shared mobility has continued to thrive.

With COVID-19 dramatically impacting travel, work, and social behaviors around the globe, the movement from car ownership into alternative (and more sustainable) forms of transportation has only become more pronounced. At Trov, we believe that this is more than a trend, it’s a shift in how people approach travel and the opportunity for shared mobility operators has never been more apparent.

Over the past several years, it has become clear to us that one of the biggest and most costly challenges facing shared mobility operators is risk. New mobility services operating robotaxi, carshare, or micromobility programs each have their own risk profile, unique to the complexities of their business. That risk profile is not only about insurance - ‘insured risk’. There are a multitude of incidents that are not insured - ‘uninsured risk’ - that also have to be considered. Combined, these two types of risk present arguably one of the most expensive and least understood aspects of a mobility operation. However, in our opinion, they also present an opportunity.

Today, we’re proud to introduce a new component of our Mobility Insurance Platform. It’s called Risk Operations Technology and, with it, we are expanding our offering to help shared mobility operators gain a better understanding of the holistic risk of their fleet.

Intelligent insurance plus risk operations technology to the power of data

This new technology complements our context-based commercial insurance coverage as the second core element of our Mobility Insurance Platform. By combining the incident information with millions of data elements from the driver, fleet and environment, we’re able to provide a singular view of a fleet’s ever-changing insured and uninsured risks. Additionally, our technology digitizes the process of managing the various incidents can happen while running a new mobility fleet - ‘incident management’. Whether that’s handling lost & found items, collecting accident information for an insurance claim, or securing an estimate from a repair network, our technology streamlines the process.

Long gone are the days when fleet operators think about risk once per year when their insurance policy is up for renewal. The complexity of these businesses requires operators to manage it constantly, so they can remain competitive. That’s where we come in. Our expanded platform not only helps businesses secure cost-efficient insurance coverage, but now it also helps them monitor, manage, and mitigate their holistic fleet risk in real-time.

All of this boils down to saving time and money – a critical part of a more sustainable future for shared mobility services.

We’re excited about the future of our Mobility Insurance Platform and we look forward to sharing more news with you in the coming days.

Check out our new and improved mobility page to learn more or request a demo here.