The InsurTech Trov will partner with a Brazilian carrier to help introduce on-demand insurance applications to its customers. Brit Ltd. has launched a private client offering.
Trov, a developer of insurance technology, is partnering with a Brazilian insurer to help introduce on-demand insurance applications to customers there.
The partnership involves Seguros Sura Brazil, one of Latin America’s largest property/casualty insurers.
How the arrangement will work: Trov’s insurance technology platform will help the insurer underwrite all-digital P&C insurance applications branded by Brazil’s most prominent financial institutions and consumer platforms. Trov and SURA will begin by launching a flexible on-demand insurance product for personal valuables and mobility, and expand to other insurance products such as auto, home and small business. Additionally, with SURA’s extensive footprint throughout Latin America, the companies intend to expand to other countries in the region.
Grupo Sura Holdings (Seguros Sura Brazil’s parent company) participated in Trov’s Series D financing in 2017, joining other strategic investors Munich Re Ventures, Sompo, Suncorp, Markel, Guidewire and others.
Brit Ltd. has launched a private client offering.
The London-based specialty insurer and reinsurer’s Brit Private Client product is designed to give brokers operating in the high and ultra-high net worth market and their clients a bespoke approach. It will offer clients personalized products and services through a single policy that will include significant limits, worldwide coverage and additions such as personal cyber, said Brit in a statement.
Coverage will include homes, rare and valuable possessions, annual travel and cars all in one policy.
Sources: Trov, Brit Ltd.