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26 February 2017
Suncorp has partnered with US technology company Trōv to produce a mobile app aimed at tackling contents underinsurance.
Trōv – pronounced trove – allows users to create and store a digital record of their purchases. Users can track the value of their possessions and keep their insurance up to date.
Suncorp Insurance EGM Customer Product and Pricing Lisa Harrison says underinsurance is a common problem in the company’s home state; one-third of Queenslanders either do not have sufficient contents cover or are unsure if they are adequately covered.
“Customers sometimes underestimate the replacement cost of their contents or simply ‘set and forget’ their insurance and end up paying the price in the event they have to make a claim,” she said.
“While many Queenslanders save the receipts from big-ticket items for tax and other purposes, they do not think to update their contents insurance, which means that if the worst did happen and they needed to make a claim, they may be underinsured.”
Ms Harrison says Trōv will help consumers make informed decisions about their cover.
In the US, Trōv helps people track more than $US3.6 billion ($4.6 billion) of items, with more than $US13 million ($16.76 million) added daily.
The Trōv app is free and available for iPhone and Android.
Click here to download on your mobile device.
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