Sompo increases stake in Trov for Asia mobility push

Initiative to focus on new mobility services such as car-sharing, ride-hailing, and autonomous vehicles

Sompo increases stake in Trov for Asia mobility push


By Gabriel Olano

Japanese insurance group Sompo Holdings has increased its financial stake in Trov to launch the latter’s Mobility Solutions offering throughout Asia.

According to a statement, Trov’s Mobility Solutions is a collaboration that combines Trov’s mobility insurance platform with Sompo’s extensive local market knowledge and operations.

This partnership is designed to address the complex risks emerging from new mobility services, such as micro-mobility, car-sharing, ride-hailing, and autonomous vehicle fleets. It will leverage Trov’s vehicle activity API to identify risks for the operators and customers of the mobility platforms, based on data received from connected vehicles and devices.

Earlier this year, Sompo Holdings increased its financial investment in Trov, and Dan Ikehata, CEO of SOMPO Digital Lab, joined its board of directors.

“We’re excited to partner with Sompo throughout key regions in Asia,” said Scott Walchek, founder and CEO of Trov. “Their influence and underwriting expertise combined with Trov’s insurance technology and mobility API will bring dynamic, data-modified insurance coverages, risk management services, and new customer experiences to transportation providers and their users throughout these regions.”

“With the mobility-as-a-service sector maturing, mobility businesses need a risk management and insurance service solution that meets their dynamic risk needs,” said Koichi Narasaki, group chief digital officer, executive vice president and executive officer at Sompo Holdings. “By leveraging Trov’s technology platform, Trov and Sompo will integrate insurance and mobility services, and dramatically change the customer experience.”

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