AXA partners with start-up to launch 'single item protection' app in UK

AXA Insurance has teamed up with California-based start-up Trov to launch its on-demand insurance platform in the UK.

Trov’s mobile app has been designed to offer insurers with international coverage against accidental damage, loss or theft of individual assets like laptop, phones, cameras and other electronics. Additional categories including sports equipment and jewellery are expected to roll out next year.

The claims will be handled via chat and insurers will be provided with a personalised quote.

Once a claim is accepted, the item will be replaced, repaired, or if that isn't possible, the user will be reimbursed.

"Trov presents people with a modern alternative to the arcane practices of a 300-year-old industry in serious need of an overhaul,” said Scott Walchek, founder and chief executive officer of Trov.

“We are excited to bring the Trov on-demand insurance platform to the UK, whose tech-forward consumers will appreciate this exciting departure from traditional insurance.”

“Single item protection is just the beginning of what's possible with a platform that can power micro-duration insurance."