Munich Re has won the bid to underwrite the on-demand insurance platform called Trov“Digitalization is changing the face of the insurance industry,”
Munich Re has won the bid to underwrite the on-demand insurance platform called Trov in the U.S. The tech company’s application, which enables people to turn coverage for personal belongings on and off at will using their smartphone, will begin rolling out across all 50 states in 2017. Scott Walchek, Trov’s founder and CEO, planned to announce the company’s partnership with the reinsurer Thursday afternoon at the Goldman Sachs Technology and Internet Conference in New York City. Munich Re confirmed it will be working with Trov to bring the service to the U.S. market. Andy Rear, the head of Digital Partners at Munich Re, said in an email that the reinsurer’s new venture was designed specifically with companies like Trov in mind.