Loading organizations...
Trōv built an insurtech platform for digital insurance distribution and emerging mobility. Its core included on-demand insurance products, micro-duration policies, and fully digital user experiences. The platform featured a cloud-based digital locker for possessions, plus APIs and developer tools for embedding insurance within other applications.
Serial entrepreneur Scott Walchek founded Trōv in 2012. He recognized traditional insurance models were outdated for digital consumers, leading him to envision a flexible, technology-driven approach. This allowed individuals to insure specific items for precise durations and enabled businesses to integrate insurance directly into their services.
Trōv's solutions served consumers needing flexible personal item coverage and businesses seeking embedded insurance. Its vision was to redefine the insurance value chain through digital transformation. In 2022, Travelers Companies, Inc. acquired Trōv’s technology assets and team, now enhancing personalized digital insurance solutions for their customer base.
Trōv has raised $114.5M across 4 funding rounds.
Trōv has raised $114.5M in total across 4 funding rounds.
Trōv has raised $114.5M across 4 funding rounds. Most recently, it raised $56.0M Series D in April 2017.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Apr 1, 2017 | $56M Series D | Munich RE Ventures | Accomplice VC, AngelPad, Anthemis Group, Beamonte Investments, Bling Capital, Foundation Capital, TOM Hulme, Matrix, Munich RE / HSB Ventures, Notion Capital, OAK HC/FT, Sapphire Ventures, Nadeem Shaikh, Sean Park, Sompo Holdings, Suncorp Group | Announced |
| Apr 26, 2016 | $25.5M Series C | Patricia Kemp | Anthemis, Michael Cameron | Announced |
| Feb 1, 2016 | $26M Series C | — | Accomplice VC, AngelPad, Anthemis Group, Beamonte Investments, Bling Capital, Foundation Capital, TOM Hulme, Matrix, Notion Capital, OAK HC/FT, Sapphire Ventures, Nadeem Shaikh, Sean Park | Announced |
| Feb 1, 2015 | $7M Series B | Anthemis Group | Accomplice VC, AngelPad, Beamonte Investments, Bling Capital, Foundation Capital, TOM Hulme, Notion Capital, Sapphire Ventures, Nadeem Shaikh, Sean Park | Announced |
# High-Level Overview
Trōv is an embedded insurance technology platform that enables financial institutions and insurance companies to seamlessly integrate insurance products into their existing digital applications and services[1][6]. Rather than selling insurance directly to consumers, Trōv provides the infrastructure—including carrier partnerships, APIs, and technology tools—that allows businesses across finance, insurance, mobility, and retail to distribute insurance products within their own digital experiences[1][2].
The company solves a critical distribution problem in the insurance industry: traditional insurance sales channels are fragmented and cumbersome, while modern consumers expect frictionless, integrated experiences. Trōv's platform enables what the industry calls "embedded insurance," allowing companies like Waymo, Groupe PSA, Lloyds Banking Group, and Suncorp to offer insurance as a native feature rather than a separate transaction[1][6]. The embedded insurance market itself is experiencing explosive growth, projected to expand from $151.73 billion in 2025 to $793.64 billion by 2034, representing a compound annual growth rate of 20.18%[2].
Trōv was founded in 2012 by serial entrepreneur Scott Walchek and initially pursued a direct-to-consumer strategy[5]. The company pioneered innovative concepts in digital insurance, including on-demand insurance, claims-chat, micro-duration policies, and "swipe-to-protect" simplicity that allowed consumers to toggle coverage on and off with to-the-second accuracy[3]. Between 2016 and 2020, Trōv launched its consumer mobile app in Australia, the United States, and the United Kingdom, partnering with major carriers like Suncorp, AXA, and Munich Re[5].
However, recognizing the greater opportunity in B2B distribution, Trōv pivoted to a business-to-business model and shut down its direct-to-consumer platform in 2019[5]. This strategic shift proved prescient: the company launched its embedded insurance platform, public APIs, and developer support tools, positioning itself as infrastructure for the insurance industry rather than a consumer brand[3]. The company raised over $114 million from leading venture capital firms and strategic partners, including HSB Ventures, Oak HC/FT, Suncorp Group, Guidewire, Anthemis, and Sompo Holdings[1][6].
Trōv operates at the intersection of two powerful trends: the shift toward embedded financial services and the digital transformation of insurance. As consumers increasingly expect financial products to be seamlessly integrated into the platforms they already use—rather than requiring separate applications or transactions—embedded insurance has become a critical capability for fintech companies, banks, and mobility platforms.
The timing is particularly favorable. Traditional insurance distribution relies on agents, brokers, and direct sales channels that are expensive and friction-filled. Digital platforms like Waymo (which needs insurance for autonomous vehicle rides) and Lloyds (which wants to embed insurance into banking experiences) face a choice: build embedded insurance capabilities in-house or partner with a specialized platform. Trōv's acquisition by Travelers Insurance in February 2022 signals that even incumbent insurers recognize embedded distribution as the future of the industry[2][5].
By enabling non-insurance companies to become insurance distributors, Trōv has fundamentally reshaped how insurance reaches consumers—not as a standalone product, but as a feature within the digital experiences people already rely on.
Trōv's acquisition by Travelers Insurance in 2022 marked a transition from independent startup to strategic asset within a major insurance conglomerate[2][5]. While the company no longer operates under its own brand, its technology and platform continue to power embedded insurance solutions for Travelers' customers and partners[5].
The broader embedded insurance market remains in its infancy relative to its projected growth trajectory. As digital platforms across mobility, fintech, and retail increasingly recognize insurance as a revenue opportunity and customer retention tool, demand for Trōv's infrastructure will likely accelerate. The key question is whether Travelers will continue to evolve and open the platform to external partners, or whether it becomes primarily an internal capability. Either way, Trōv's core insight—that insurance distribution is moving from standalone channels to embedded experiences—has proven durable and is reshaping how the insurance industry operates.
Trōv has raised $114.5M in total across 4 funding rounds.
Trōv's investors include Munich Re Ventures, Accomplice VC, AngelPad, Anthemis Group, Beamonte Investments, Bling Capital, Foundation Capital, Tom Hulme, Matrix, Munich Re / HSB Ventures, Notion Capital, Oak HC/FT.