Munich Re-backed insurtech Trov launches in the US

California-based insurtech firm Trov has begun to roll out its on-demand insurance offering in the US a year after having received regulatory approval.

Trov had received approval for its on-demand insurance services from regulators in 23 US states in July 2017.

The insurtech firm enables users to buy insurance for specific products, for specific amounts of time through their smartphones. Users can turn insurance on and off with a swipe and also file claims through the app. Insurable items include headphones, wearables, phones, laptops and photography gear.

Trov's on-demand insurance roll-out in the USA is starting with Arizona. The company already operates in Australia and the UK.

Munich Re has invested in Trov and agreed to expand its strategic alliance with Trov to include underwriting throughout Europe, Asia and South Africa.

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