Trōv

Scott Walchek, Founder and CEO, Trōv

San Francisco-based InsurTech Trōv has launched a white-labeled insurance platform ‘Powered By Trōv’ and has entered into a partnership with Lloyds Banking Group. The new product is expected to host a portfolio of end-to-end digital, white-labeled insurance products.

Scott Walchek, Founder and CEO, Trōv, commented, “The launch of Powered by Trōv marks the completion of our evolution from a single direct-to-consumer offering to a suite of robust, flexible insurtech applications that empower incumbents to offer relevant products to the latest generation of digital natives. We’re delighted that Lloyds Banking Group is joining us on our journey and excited to assist other financial institutions to remain competitive in the face of mounting competition by offering the types of digital insurance products their customers demand.”

According to the supplier, the ‘ Powered by Trōv’ platform consists of four core insurtech modules such as Policy Sales, Claims, CRM, and Business Intelligence. Trōv’s solutions aim to assist its clients with no requirement to integrate with legacy platforms.

Jeremy Ward, Home Insurance Commercial Director at Lloyds Banking Group, commented, “We’re excited to explore how Lloyds Banking Group can better meet our customers’ changing needs. Modern consumers expect simple, engaging experiences in anything they do, and we’re looking forward to launching innovative new products to give our customers that kind of experience.”

Established in 2012, Trōv is an InsurTech platform aiming to encourage financial institutions and insurance incumbents to deploy better solutions for its service providers. It has secured around $114 million from venture capitalists and strategic partners.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
imp-loader
Scroll Up