Travelers acquires insurtech company Trov

The Travelers Cos. Inc. has acquired insurtech company Trov Inc. for undisclosed terms.

Most team members of Trōv have also joined Travelers. Trōv's team and embedded technology solutions will be placed in the personal insurance segment of Travelers.

Trōv is an insurtech that provides on-demand insurance and micro-duration policies, among other offerings.

Perella Weinberg Partners LP served as Trov's financial adviser, while Sheppard Mullin was legal counsel. Debevoise & Plimpton served as legal counsel to Travelers on the deal.