Monetizing Insurance at Trov
Trov is a disruptive startup in the insurance space ("insurtech"). It allows consumers to simply turn on and turn off insurance for each of their possessions on a mobile app with the swipe of a finger. Consumer love the simple, on-demand, single-item coverage product. However, the cost to acquire customers (CAC) for Trov is significantly higher than the total expected contribution margins (CLV) for the single item coverage insurance product that the company is known for. In light of this, what should the CEO of Trov to with the product? How can Trov monetize on-demand insurance?