Munich Re has entered a partnership with Trov to bring its on-demand insurance business to the U.S. in 2017, the companies announced today.
The move follows Trov’s initial launch in Australia in May. Its app enables customers to insure single items they care about, specifically for the amount of time they choose. Users are presented a personalized quote on its cloud-based platform, which features algorithmic pricing, integrated billing and bot-assisted claims. Munich Re is said to provide underwriting capital and insurance licensing for Trov in the U.S.
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