Founded Year

2012

Stage

Acquired | Acquired

Total Raised

$100.2M

About Trov

Trōv powers digital insurance solutions for businesses in the finance, insurance, mobility, and retail sectors, enabling the new ways people live, work and move.On February 23rd, 2022, Trōv was acquired by The Travelers Companies. The terms of the transaction were not disclosed.

Trov Headquarters Location

347 Hartz Avenue

Danville, California, 94526,

United States

201-206-3487

ESPs containing Trov

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTHMARKET STRENGTHLEADERHIGHFLIEROUTPERFORMERCHALLENGER
Insurance / P&C Insurance Tech

Distribution enablement technology refers to automation solutions that help insurers, insurtechs, brokers, and distribution partners distribute P&C products and services, reach and interact with customers, collaborate with partners, assess and manage risk, and generate revenue.

Trov named as Leader among 11 other companies, including Sure, Cover Genius, and Corvus Insurance.

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Trov's Products & Differentiation

See Trov's products and how their products differentiate from alternatives and competitors

  • Embedded API

    The Embedded API product is an Insurance-as-a-Service solution that allows affinity brands to distribute various insurance products to their customer base. The API handles all the insurance complexity, from state-by-state compliance to insurance specific business rules, and allows the distributor to fully engage the consumer in the context their existing digital relationship. The API supports the full end-to-end insurance flow, from purchase and policy management to claims submission.

    Differentiation

    The Embedded API has three primary differentiators. 1). It is designed to support any P&C insurance product with the integration and same API calls. This allows a distributor to offer multiple pro… 

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    Differentiation

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    Differentiation

    We're on a mission to enable every organization to make smarter decisions about tech. Whether it's finding a new game-changing vendor or understanding a new market, it's easier, faster and smarter with CB Insights. All made possible by the smartest, hardest-working team in tech. Subscribe to see more.

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    We're on a mission to enable every organization to make smarter decisions about tech. Whether it's finding a new game-changing vendor or understanding a new market, it's easier, faster and smarter with CB Insights. All made possible by the smartest, hardest-working team in tech. Subscribe to see more.

    Differentiation

    We're on a mission to enable every organization to make smarter decisions about tech. Whether it's finding a new game-changing vendor or understanding a new market, it's easier, faster and smarter with CB Insights. All made possible by the smartest, hardest-working team in tech. Subscribe to see more.

Expert Collections containing Trov

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Trov is included in 3 Expert Collections, including Fintech 250.

F

Fintech 250

248 items

I

Insurtech

3,311 items

Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience

F

Fintech

7,442 items

US-based companies

Trov Patents

Trov has filed 1 patent.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

3/13/2014

Investment, Collecting, Business models, Property law, Systems engineering

Application

Application Date

3/13/2014

Grant Date

Title

Related Topics

Investment, Collecting, Business models, Property law, Systems engineering

Status

Application

Latest Trov News

06:35 EDT InsurTech Market - UK and France to be the Fastest Growing Regions in Europe

Aug 10, 2022

News provided by Share this article Share this article NEW YORK, Aug. 10, 2022 /PRNewswire/ -- The InsurTech MARKET was a fragmented industry that was in a phase of growth in 2020. By 2025, the market structure would continue to be fragmented. Its lifecycle stage would continue to be in the growth phase. InsurTech refers to insurance technology, where technological innovations are used for improving the efficiency and savings of the conventional insurance industry model. Many venture capital firms are investing in InsurTech start-ups. InsurTech firms are leveraging the power of software to promote different insurance products and other portfolio management tasks. These start-ups offer platforms or technologies for insurance companies and can disrupt the less technologically savvy corporations. InsurTech platforms help insurance companies in facilitating their operational efficiency. They can lower the cost of insurance products using InsurTech platforms. Technavio has announced its latest market research report titled InsurTech Market by Value Chain Positioning and Geography - Forecast and Analysis 2021-2025 According to the recent market study by Technavio – InsurTech market value is set to grow by USD 33.73 billion, progressing at a CAGR of 45.28% from 2020 to 2025. InsurTech market is segmented by Geography (North America, Europe, APAC, MEA, and South America) and Value Chain Positioning (marketing and distribution, IT support, policy administration and management, claim management, and others). Key vendors of the InsurTech market include Alan SA, Clover Health, Cytora Ltd., Haven Life Insurance Agency LLC, Oscar Insurance Corp., Quantemplate Technologies Inc., Shift Technology, simplesurance GmbH, Trov Insurance Solutions LLC, and ZhongAn Online Property Insurance Co. Ltd. among others. The need to improve business efficiency is notably driving the InsurTech market growth, although factors such as the high cost of the investment may impede the market growth. The investors collaborating with InsurTech firms to be the premium trend of the market. 47% of the market's growth will originate from Europe during the forecast period and the InsurTech market share growth by the marketing and distribution segment will be significant during the forecast period. Browse Summary of this InsurTech MARKET  Research Report to Learn More Europe's potential as a global InsurTech hub – UK and France are the key markets for InsurTech in Europe. Market growth in this region will be faster than the growth of the market in the North American and MEA regions. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans. Benefits of InsurTech to improve business efficiency – The increase in the number of connected devices in financial industries has led to massive amounts of data generation. Insurance companies have realized that they can use the data to optimize costs, deliver better services, and boost revenues. In the traditional insurance systems, high costs were involved due to the physical distribution of the data. With the customers becoming more digitized, the demand for better and easier access to insurance technology services is increasing. The use of InsurTech, which includes risk-averting models and predictive mechanisms, helps businesses with a substantial amount of data to enhance their productivity. To implement these technologies in the insurance framework, there is a high need for establishing a seamless connection for efficient communication among systems, machines, and people. Thus, InsurTech has become a strategic priority for several insurance organizations. Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the InsurTech industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge. Overview of Adjacent InsurTech Market Research Reports available with Technavio – Browse Summary of the InsurTech MARKET IN UK  Research Report by Deployment and Value Chain Positioning - Forecast and Analysis 2022-2026: The market value is set to grow by USD 4.20 billion, progressing at a CAGR of 43.74% from 2021 to 2026, as per the latest report by Technavio. Furthermore, this report extensively covers InsurTech market in the UK segmentation by deployment (on-premises and cloud) and value chain positioning (marketing and distribution, IT support, policy administration and management, claim management, and others). InsurTech Market Scope 5 Market Segmentation by Value chain positioning 5.1 Market segments 5.2 Comparison by Value chain positioning Exhibit 15: Comparison by Value chain positioning 5.3 Marketing and distribution - Market size and forecast 2020-2025 Exhibit 16: Marketing and distribution - Market size and forecast 2020-2025 ($ million) Exhibit 17: Marketing and distribution - Year-over-year growth 2020-2025 (%) 5.4 IT support - Market size and forecast 2020-2025 Exhibit 18: IT support - Market size and forecast 2020-2025 ($ million) Exhibit 19: IT support - Year-over-year growth 2020-2025 (%) 5.5 Policy administration and management - Market size and forecast 2020-2025 Exhibit 20: Policy administration and management - Market size and forecast 2020-2025 ($ million) Exhibit 21: Policy administration and management - Year-over-year growth 2020-2025 (%) 5.6 Claim management - Market size and forecast 2020-2025 Exhibit 22: Claim management - Market size and forecast 2020-2025 ($ million) Exhibit 23: Claim management - Year-over-year growth 2020-2025 (%) 5.7 Others - Market size and forecast 2020-2025 Exhibit 24: Others - Market size and forecast 2020-2025 ($ million) Exhibit 25: Others - Year-over-year growth 2020-2025 (%) 5.8 Market opportunity by Value chain positioning Exhibit 26: Market opportunity by Value chain positioning 6 Customer landscape

Trov Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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Trov Rank

  • When was Trov founded?

    Trov was founded in 2012.

  • Where is Trov's headquarters?

    Trov's headquarters is located at 347 Hartz Avenue, Danville.

  • What is Trov's latest funding round?

    Trov's latest funding round is Acquired.

  • How much did Trov raise?

    Trov raised a total of $100.2M.

  • Who are the investors of Trov?

    Investors of Trov include The Travelers Companies, Anthemis, Suncorp Group, Oak HC/FT Partners, Grupo Sura and 8 more.

  • Who are Trov's competitors?

    Competitors of Trov include Sure and 4 more.

  • What products does Trov offer?

    Trov's products include Embedded API and 3 more.

  • Who are Trov's customers?

    Customers of Trov include Lloyds Banking, Waymo and PSA.

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