fintechFIVE: Trōv

Elizabeth Barry 18 May 2017 NEWS

trov insurance fintech

Scott Walchek

Founder and CEO

In two sentences or less, describe your product or service.

Trōv is revolutionising the way people protect the things they care about with the introduction of the world's first on-demand insurance platform for single items. Trōv gives people the power to insure just what they want, exactly when they want, for as long as they want, entirely from their mobile device.

What has been the company's biggest milestone to date?

We’ve been operating in Australia for a little under a year and have already seen a great response to our on-demand insurance product. Australia was our first launch site for Trōv, and we’re continuously listening to our customers and applying those learnings to make sure we’re offering the best service possible. It’s been incredibly informative and was a big influence on our launch in the UK last November.

We recently announced a US$45 Million round of Series D Funding and our plans to launch in the United States, Europe, Japan and South Africa in the near future. We’ll also be expanding the categories of items Trōv covers and accelerate the development of new applications that leverage our technology platform, which will allow people to easily protect more things and ultimately create a more personalised service.

What’s your most useful advice for having a productive day?

Something I’ve learned over the course of my career is the importance of understanding and paying attention to daily rhythms. I’m a morning person, and I typically start my day before sunrise, when I feel most productive and creative. Mornings are usually when I’ll schedule my most important meetings and tasks. For me, productivity is giving yourself permission to work in those moments when you feel most creative and inspired, and benefitting from those periods when your intellectual spark is most active.

Where do you see the company in 12 months?

Our focus for the next 12 months is product and category development. Our algorithm gives us insight into what people want to protect and how they want to protect it, so we have the ability to better understand what our customers want from us. We’re working every day to allow them to protect what matters most to them and offer them the best service possible.

We’re also looking at new regions to expand to, with the US marked for launch later this year.

Which book has had the most influence on your professional mindset?

Every Good Endeavor by Tim Keller. This book helped me understand the importance of conviction, caring, goodness and service in my career, and inspired me with its message of melding the secular and sacred notions of work to pursue a balanced professional and personal life.

The fintechFIVE is a series of five questions intended to shed light on innovative companies from Australia and around the world. Every Thursday we ask the same five questions to a representative from a new fintech company – check out the most recent fintechFIVEs here.

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