FintekNews has some very successful friends in the insurance industry who are CERTAIN that it can’t be automated. We feel that is wishful thinking on the part of our ancient, but beloved friends, and we thought that since this is an emerging segment of the fintech industry, we’d periodically feature new players in the space under “InsurTech 101”. BTW, we did double-check and the spelling of InsurTech is correct.
Our first featured InsurTech firm is Australian-based TROV, which received $25.5M in funding in April 2016. The firm plans to expand to the UK later in 2016 and the US in 2017, and offers insurance entirely via mobile for single items of value. Per their site, they have insured over 940,000 items worth $8.5 Billion to date.
Check out their site at http://www.trov.com/.