If there is any doubt about the insurance models that can meet the expectations of millennial, that will be more and more in the insurance market in the coming years and are not currently satisfied, just look to the type of service developed by Trov, California startup founded in 2012 that has just raised more than $ 25 million in its fifth round of fundraising, reaching a collection of over 46 million from 6 to US and European venture capital funds, not yet marketed.
What does it do, and why it meets the needs of Millennials? Trov’s mission is to reinvent the insurance policies system by digitizing the process of purchasing and customer support (fully managed mobile, including claims), making everything very simple, flexible and transparent. Thanks to a strong technology, it offers on-demand insurance policies in order to preserve your own assets (computer, smartphone, TV, bicycles, musical instruments, sports equipment). Policies that can be “on or off” with a few steps on the smartphone as needed. The same complaints can be handled in the same way: even with a chat in real time.
This is the true innovation from Trov: policies on personal property such as computers or skiing, are nothing new. Indeed the on-demand policy, flash, on-and-off, mobile, is certainly closer to the features of Millennials.
Although it was founded in California, in Danville, the US is not the first country where the company will launch, rather Australia in partnership with Suncorp Group, and UK, in collaboration with Axa.
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