Waymo has entered into a partnership with Trov, a leading On-Demand Insurance technology company. Trov will power trip insurance customized for passengers of Waymo’s soon-to-be-launched service. The insurance coverage will be underwritten by a non-admitted affiliate of Munich Re and will include several protections for passengers for the duration of each trip including lost property, trip interruption benefits, and medical expense reimbursement.
This partnership marks Trov’s– a five-year-old insurance tech startup based in California– entrance into the mobility space, the first in a suite of solutions tailored to serve both today’s and tomorrow’s modes of transport. Trov is pioneering a cutting-edge approach to insurance that’s ideal for ride-sharing because it’s customized for every trip.
Although the Self-driving cars are predicted to be safe and less prone to accidents but riding in it will have some risks involved as with any transportation medium. This step by the company will induce trust in the passengers as this is a very new technology.
Waymo will launch its first commercial ride-hailing service in early next year in Phoenix where it is already testing its driverless vehicles carrying passengers around. The company also recently inked deal with AutoNation on maintenance and repair of its self-driving cars.