Insurance technology firm Trov has entered into a new partnership with Sompo Holdings to launch Mobility Solutions, designed to expand the firm’s mobility footprint to Asia.
The new Powered by Trov collaboration combines the tech firm’s Mobility Insurance Platform with Sompo Holdings’ broad and deep market knowledge and operations, with a goal to address complex and emerging risks from new mobility services.
The partnership looks to address the needs of a range of new transportation businesses, including things like micro-mobility, car-sharing, ride-hailing, and also autonomous vehicle fleets, and will use Trov’s Vehicle Activity API to identify risks and create new experiences for both customers and operators of the platform.
This is the latest development in the partnership between Trov and Sompo, with the insurer deepening its financial investment in the tech company earlier this year, while the Chief Executive Officer (CEO) of Sompo Digital Lab, Dan Ikehata, joined its Board of Directors.
Scott Walchek, Founder and CEO of Trov, commented: “We’re excited to partner with Sompo throughout key regions in Asia. Their influence and underwriting expertise combined with Trov’s insurance technology and mobility API will bring dynamic, data-modified insurance coverages, risk management services, and new customer experiences to transportation providers and their users throughout these regions.”
Koichi Narasaki, Group Chief Digital Officer, Executive Vice President and Executive Officer at Sompo Holdings, added: “With the mobility-as-a-service sector maturing, mobility businesses need a risk management and insurance service solution that meets their dynamic risk needs.
“By leveraging Trov’s technology platform, Trov and Sompo will integrate insurance and mobility services, and dramatically change the customer experience.”
