On-demand insurance for single items, all through one app

Trōv is an app-based on-demand insurance platform, enabling users to cover only the objects that matter.

Insurance can be off-putting to users who may only own one or two valuable items — why pay out for general coverage when the only valuable item you own is a vintage guitar? Now, Australia-based insurance company Trōv are enabling users to have more flexibility with the items they want to insure.

Trōv is an entirely app-based disruptive insurance platform, offering on-demand insurance tailored to individuals. Users upload their valuable items to the Trōv app (either via photos or from the product database) and swipe over the items they want insured, thereby enabling more affordable rates on an item-by-item basis. Making a claim is similarly straightforward — users swipe over one of their insured items on their dashboard and select ‘make a claim’, after which all that is required is a series of texts exchanges with an online assistant. All item information is securely stored in the Trōv cloud, should it be a user’s smart phone that goes missing. There are also no fixed-term contracts — users can simply end insurance cover on objects whenever they please. Trōv are marketing at creatives, such as photographers or musicians whose career depends on single high value items, even launching a campaign to track down the subjects of photos from lost or stolen cameras at the recent Photography Show in Birmingham, UK. Currently available in Australia and the UK on iOS and Android, Trōv will be expanding into other markets soon.

We’ve already seen how users are being offered insurance for features specific to connected cars, so, with the growing IoT network filling with ever more connected devices, how else can insurance companies respond to these new digital challenges?