Trov's API powers ride-sharing app insurance experience

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Trov is partnering with Free2Move, a car-sharing app owned by European carmaker Groupe PSA, to power the insurance experience for users.

Free2Move will use Trov’s Vehicle Activity API to adjust insurance premiums based on data received in real-time from all of its connected cars, based on each vehicle’s current risk state.

"When a driver rents a Free2Move vehicle and the trip begins, Trov receives the signal of that new vehicle state and automatically adjusts the premiums to match the new risk state. When the trip is over, and the vehicle is safely parked and locked (a lower risk profile), our platform is notified by data and appropriately adjusts," Trov writes in a blog post.

Free2Move joined Trov to expedite its entry into the North American carsharing market. Using the technology, its insurance costs have dropped by 30%, according to the companies.

Trov technology also powers passenger protection for Alphabet’s self-driving autonomous vehicle fleet, Waymo One.

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Insurtech APIs Auto insurance Real-time data Telematics Sharing economy