(Image credit: Shutterstock.)
The Travelers Companies (Travelers; Hartford, Conn.) has acquired the technology assets of Trov, the Danville, Calif.-based pioneer of online sale of insurance for single items of property. Trov reports that most members of its team have joined Travelers, and that the company’s embedded technology solutions will be assimilated within Travelers’ Personal Insurance business segment. The companies declined to disclose the terms of the transaction.
“Over the past several years Trōv has reimagined many components of the insurance value chain. Travelers is the ideal company to harness our experience and take our technology to the next level,” comments Scott Walcheck, CEO, Trov. “All of us are leaning into this opportunity with enthusiasm.”
“This is yet another example of how we’re investing to enhance the experience for our customers, agents and partners,” says Michael Klein, President of Personal Insurance, Travelers. “We’re excited about the important innovation we have underway, and Trōv’s sophisticated technology and talented team will help accelerate our ongoing efforts to provide customers with personalized solutions in their channel of choice.”