Travelers acquires Trōv’s technology assets
Trov announced that its technology has been acquired by Travelers. Most members of Trōv’s team have also joined the company. Terms of the transaction were not disclosed.
Founded in 2012, Trōv originally launched with a D2C proposition and it raised nearly $100 million from investors including Munich Re Ventures, Sompo Japan Nipponkoa Insurance, Suncorp Group, Guidewire, and others. In 2019, the company transitioned from B2C to B2B with the launch of a white-label platform comprised of policy sales, claims, CRM, and business intelligence. Over the years Trōv announced partnerships with several insurers such as Halifax, Suncorp, Sompo, as well as non-insurance companies such as Zerology.
Trōv’s last publicly disclosed round of funding took place nearly five years ago in April 2017. The company has around 30 employees according to LinkedIn.
Trōv’s team and embedded technology solutions will be positioned within Travelers’ personal insurance segment.
“Over the past several years Trōv has reimagined many components of the insurance value chain. Travelers is the ideal company to harness our experience and take our technology to the next level. All of us are leaning into this opportunity with enthusiasm.” – Scott Walchek, Founder and CEO of Trōv.
“This is yet another example of how we’re investing to enhance the experience for our customers, agents and partners. We’re excited about the important innovation we have underway, and Trōv’s sophisticated technology and talented team will help accelerate our ongoing efforts to provide customers with personalized solutions in their channel of choice.” – Michael Klein, President of Personal Insurance at Travelers.