Trov partners with Sura to deploy On-Demand Insurance in Brazil
Source: IBS Intelligence
Trov, on-demand insurance technology provider has announced that the company has partnered with Seguros Sura Brazil, Latin America P&C insurers, to introduce on-demand insurance applications in Brazil.SUSEP‘s recent regulatory changes have enabled insurers to offer on-demand insurance products to consumers and businesses in Brazil. Unlike traditional annual policies, on-demand insurance delivers policies of infinitely variable durations. Besides, coverages can be easily modified without any interaction from an agent. With the shift in consumer behaviour, the need for all-digital, flexible insurance solutions is further amplified.“SURA is an immensely innovative underwriter with the ambition to offer modern, customer-centric insurance experiences. We’re genuinely excited to work with SURA and their distribution partners to bring personalized, all-digital insurance applications to the Brazilian market, and throughout Latin America,” said Scott Walchek, CEO/Founder of Trov.Through the partnership, Trov’s insurance technology platform will enable SURA to underwrite all-digital P&C insurance applications branded by Brazil’s financial institutions and consumer platforms. Trov and SURA are planning to launch a flexible on-demand insurance product for personal valuables and mobility first, and then expand to other insurance products such as auto, home and small business.“We recognize the potential of Latin America’s insurance market in light of recent regulatory changes and invested in Trov’s innovative insurance model to meet new consumer demands. Trov’s proven track record in on-demand insurance makes them the ideal partner with whom to deploy modern insurance applications in Brazil and beyond,” said Thomas Batt, CEO of Seguros Sura.Founded in 2012, Trov is an insurance technology platform provider, enabling the new ways people live, work, and move. Its customers include industry leaders such as Waymo, Groupe PSA, Lloyds Banking Group, and Suncorp, amongst others. Till now, the company has raised over $114 mn from leading VC’s and strategic partners.
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