After raising $25.5 million in a Series C funding round, mobile-based on-demand insurance platform Trov is gearing up to launch in its first market, Australia.
The round, which brings San Francisco-based Trov's total funding to $39 million, was led by Oak HC/FT and joined by Australian insurer Suncorp Group, insurance technology provider Guidewire, and Anthemis Group.
Trov is aiming to revolutionise the world of insurance through its iOS and Android app which will let customers instantly turn insurance on or off for individual items, such as a laptop, camera or bicycle.
The service will go live in Australia next month thanks to a partnership with new investor Suncorp. A similar deal with Axa will see Trov arrive in the UK later this year, and the startup is promising to make it to the US and other markets in 2017.
Scott Walchek, founder and CEO, Trov, says: "On-demand is the expectation of the connected generations. From purchasing and policies to pricing and claims, we've rebuilt insurance from the ground up by creating a truly on-demand experience."