Country for PR: United States
Contributor: PR Newswire New York
Thursday, August 08 2019 - 18:16
AsiaNet
Trov Launches White-Label Insurtech Platform and Partners with Lloyds Banking Group
SAN FRANCISCO and LONDON, Aug. 8, 2019 /PRNewswire-AsiaNet/ --

--"Powered by Trov" insurtech platform will host a portfolio of white-label
  insurance products, enabling incumbents to rapidly deploy modern insurance
  solutions for homeowners, renters, motorists, and SMEs.

Trov (www.trov.com), a global leader in insurance technology, is launching a 
portfolio of end-to-end digital, white-labelled insurance products designed to 
be rapidly deployed by financial organisations and insurers. Lloyds Banking 
Group, the UK's largest retail financial services provider, with around 26 
million customers and a centuries-old history, will partner with Trov. Later in 
2019, Trov and Lloyds Banking Group will release an innovative insurance 
product designed around the evolving lifestyle of modern, connected UK 
consumers.

The Powered by Trov platform comprises four core insurtech modules, including 
Policy Sales (quoting, binding, billing, and adjustments), Claims (consumer and 
business interfaces), CRM (customer management), and Business Intelligence 
(conversion, engagement and risk analytics). These modules are the building 
blocks of the white-label insurance product line and can be configured for a 
variety of policy types including homeowners, renters, motor, and SME.

With the launch of Powered by Trov, the San Francisco-headquartered technology 
company is establishing itself as the preferred international partner for 
insurers and financial services enterprises seeking to go to market with 
innovative insurance products and capture a new generation of consumers. Trov's 
white-label products are infused with award-winning user experience design, 
take advantage of Trov's expertise in on-demand coverages, and offer a means by 
which incumbents can innovate with little to no integration with legacy 
platforms.

Scott Walchek, Founder and CEO, Trov, comments: "The launch of Powered by Trov 
marks the completion of our evolution from a single direct-to-consumer offering 
to a suite of robust, flexible insurtech applications that empower incumbents 
to offer relevant products to the latest generation of digital natives. We're 
delighted that Lloyds Banking Group is joining us on our journey and excited to 
assist other financial institutions to remain competitive in the face of 
mounting competition by offering the types of digital insurance products their 
customers demand."

Jeremy Ward, Home Insurance Commercial Director at Lloyds Banking Group, 
comments: "We're excited to explore how Lloyds Banking Group can better meet 
our customers' changing needs. Modern consumers expect simple, engaging 
experiences in anything they do, and we're looking forward to launching 
innovative new products to give our customers that kind of experience."

About Trov
Trov is the world's leading insurance technology platform, enabling the new 
ways people live, work, and move. Its robust insurtech platform empowers 
financial institutions and insurance incumbents to rapidly deploy modern 
solutions for homeowners, renters, drivers and small businesses. Its 
technology-enabled brokerage combines powerful software with bespoke insurance 
products to solve the complex risk management issues facing companies in 
emerging mobility and gig work. Trov's customers include industry leaders such 
as Waymo, Groupe PSA, Lloyds Banking Group, and Suncorp, amongst others.

Founded in 2012 by serial entrepreneur Scott Walchek, Trov has raised over $114 
million from leading VC's and strategic partners. The company is based in the 
San Francisco Bay Area and maintains offices in New York and London. For more 
information, please visit www.trov.com.

About Lloyds Banking Group
Lloyds Banking Group is a leading UK based financial services group providing a 
wide range of banking and financial services, focused on personal and 
commercial customers. The Group's main business activities are retail, 
commercial and corporate banking, general insurance, and life, pensions and 
investment provision.

The Group operates the UK's largest retail bank and has a large and diversified 
customer base. Services are offered through a number of well recognised brands 
including Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows, and a 
range of distribution channels. This includes the largest branch network in the 
UK and a comprehensive digital, telephony and mobile services.

Lloyds Banking Group is quoted on both the London Stock Exchange and the New 
York Stock Exchange and is one of the largest companies within the FTSE 100.

To find out more about the Group, download our Annual Review ( 
https://c212.net/c/link/?t=0&l=en&o=2547031-2&h=1287732147&u=https%3A%2F%2Fwww.lloydsbankinggroup.com%2Fglobalassets%2Fdocuments%2Finvestors%2F2016%2F2016_lbg_annual_review.pdf&a=To+find+out+more+about+the+Group%2C+download+our+Annual+Review 
).

Logo - https://mma.prnewswire.com/media/487113/Trov_Logo.jpg  

SOURCE: Trov

CONTACT:  Trov, Chris Pappas, press@trov.com, OR Lloyds Banking Group, Sarika 
Thanki, 07557 661 569, sarika.thanki@lloydsbanking.com