In a fast paced, I need it now world, Trov is an on demand insurance platform for single items. It works with your mobile app and allows users to insure only the things they want; such as laptops, cameras, bicycles, and for whatever period of time. Although, for the initial launch they will offer protection for a limited number of items, and then begin rolling out additional categories over the course of the year.
After receiving $25.5 million funding from, led by venture fund, OAK HC/FT, Trov will be expanding globally. Currently Trov will only be available in Australia, but already have plans to expand to the United Kingdom in 2016 with sights on the US and other regions by 2017.
In a statement released today, Trov Founder and CEO, Scott Walchek said, “On-demand is the expectation of the connected generations. From purchasing and policies to pricing and claims, we’ve rebuilt insurance from the ground up by creating a truly on-demand experience. Now, with the close of our Series C financing and alignment with innovative partners, we’re equipped to rapidly evolve the technology and expand globally".