Lloyds Bank partners with Trov on portfolio of white label, digital insurance products
Lloyds Banking Group has partnered with San Francisco-based insuretech Trov on a white-label portfolio of digital insurance products for millions of U.K. customers, called Powered by Trov, including handling policy sales, claims, customer management and business intelligence.
Lloyds will market the digital insurance products to millions of its banking customers in the U.K. The platform has been used for a variety of insurance products, ranging from homeowners and renters insurance to auto and SMB policies.
"The launch of Powered by Trov marks the completion of our evolution from a single, direct to consumer offering to a suite of robust, flexible insurtech products that empower incumbents to offer relevant products to the latest generation of digital natives," Scott Walchek, founder and CEO of Trov, said in a company release.
Lloyds Banking Group provides commercial and personal banking services to 26 million customers and operates several brands, including Lloyds, Halifax, Bank of Scotland and Scottish Widows Insurance companies.