Leading UK Insurer Hamilton Fraser Partners With Trov To Provide All Digital Renters Insurance To Its Customers
LONDON and SAN FRANCISCO, July 20, 2021 /PRNewswire/ -- Trov ( www.trov.com ), a global leader in embedded insurance, today announces that Hamilton Fraser ( www.hamiltonfraser.co.uk ), a leading provider of insurance and services to the private rented sector, has signed-on as one of Trov’s newest partners, enabling the insurer to offer digital insurance products to its customers by deploying Trov’s white-labelled solution.
In addition to Hamilton Fraser, who will offer its customers digital renters insurance, Trov is welcoming four major proptech brands to its roster, including ideal flatmate, a flat sharing platform, Movebubble, a property rental platform, good2rent, the tenant referencing solution, and Vaboo, a customer engagement platform used by letting agents which manages rewards for renters and landlords. The new partners join Trov’s growing embedded insurance customer-base which includes fintechs, retailers, neo-banks, utilities, and proptechs such as Love to Rent, OpenBrix, Moovshack, and Movinghub, all of whom onboarded earlier this year.
With the majority of the UK now returning to a typical daily routine, which will involve leaving homes and possessions unattended for the first time in over a year, Trov’s flexible renters insurance, which is powered by its innovative technology, will bring a welcomed peace of mind to many of its partners’ customers.
“By enabling our partners to deliver a compelling user experience while helping to close consumer protection gaps, our embedded insurance capabilities increase customer loyalty, lifetime value, and delivers high-margin recurring revenue. Our APIs and no-code options combined with a growing network of insurance products mean that digital brands will benefit from offering a wide array of flexible insurance products to their customers,” comments Scott Walchek, Founder and CEO of Trov.
Eddie Hooker, CEO of Hamilton Fraser adds: “Having been providing high quality insurance for the last 25 years, we know that in order to meet the ever-changing needs of the customer, we must always be searching for new ways to adapt our business. Our collaboration with Trov will allow us to continue offering the most reliable products to our customers as well as keeping us at the forefront of innovation in our sector. We have been protecting and working with landlords for over two decades, and we are excited to now be able to expand our service to include and offer flexible renters insurance to the wider pool of customers.”
Powering the next generation of insurance, Trov’s technology is purpose built to facilitate the seamless distribution of digital insurance products. In 2021, Trov has a strong queue of brand partners readying to launch not only renters insurance, but other (soon-to-be announced) P&C products.
About Embedded Insurance
Embedded insurance (technology-enabled insurance products offered in the context of non-insurance applications) is revolutionising insurance distribution as popular brands are motivated to generate new revenue streams while keeping customers within their existing ecosystems. The banking industry has seen much of its customer acquisition shift to all-digital channels, via embedded finance, and now the insurance industry is undergoing a similar change. McKinsey estimates that emerging digital ecosystems (interconnected services that enable users to fulfill a variety of needs in one integrated experience) will generate 30% of global revenue by 2025, with P&C insurance sales playing a significant role.
Trov has designed its APIs and no-code, plug-and-play products to power this shift by providing digital ecosystems with the necessary tools, from quote to claim, to make insurance a seamlessly integrated offering within their customer applications.
Trov is a global leader in embedded insurance, powering the future of digital insurance distribution and emerging mobility. Its APIs and white-label software enable brands to rapidly deploy modern P&C insurance solutions in home, renters, auto, pet, small business and mobility. Trov’s global customers and partners include industry leaders such as Waymo, Lloyds Banking Group, Groupe PSA, Hyundai, and Honda amongst many others.
Founded in 2012 by serial tech entrepreneur Scott Walchek, Trov is backed by leading VCs and strategic partners. The company is headquartered in the San Francisco Bay Area. For more information, please visit www.trov.com
About Hamilton Fraser
Hamilton Fraser Total Landlord Insurance is part of the Hamilton Fraser family of companies. In addition to providing specialist insurance to the private rented sector, Hamilton Fraser offers a range of services to the sector including: tenancy deposit protection solutions for landlords, letting agents and tenants, independent complaint handling and mediation, client money protection, and eviction and housing law services.
The Hamilton Fraser family includes mydeposits, Ome, the Property Redress Scheme, Client Money Protect and Landlord Action. Their award-winning landlord insurance offering, Total Landlord Insurance, has been specialising in providing comprehensive cover for landlords since 1996. This year, 2021, marks a significant milestone for Hamilton Fraser as the company celebrates 25 years of continuous operation.
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