US primary insurer Travelers has acquired assets of Trōv Technology, a provider a software designed to help brands deploy modern P&C insurance solutions in home, renters, auto, pet, small business and mobility.
With this transaction, most members of Trōv’s team have also joined Travelers, and will be positioned within Travelers’ Personal Insurance segment going forward.
Among the solutions provided by Trōv’s are 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.
“This is yet another example of how we’re investing to enhance the experience for our customers, agents and partners,” said Michael Klein, President of Personal Insurance at Travelers.
“We’re excited about the important innovation we have underway, and Trōv’s sophisticated technology and talented team will help accelerate our ongoing efforts to provide customers with personalized solutions in their channel of choice.”
Scott Walchek, Founder and CEO of Trōv, also commented: “Over the past several years Trōv has reimagined many components of the insurance value chain. Travelers 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.”
