Yesterday I came across something called Trōv. An environment in the cloud providing collection services of all your assets. It not only provides a nice picture, but values it, offers insurance possibilities and advises on opportunities to use your products or holidays. You even can borrow or sell your products!
Let’s have look:
How the Concept works
Trōv provides services in areas like Casualty & Property Insurance, Family Offices, Wealth Management, Real Estate, Merchant Auctions and Luxury.
You have to become a member to receive exclusive benefits from Trōv partners who bring offers in insurance, finance, on-line consignment, auction, specialized services. Looking at their website, most of them are luxury services. So yes this service is specifically focused on High Net Worth Individuals (HNWI’s). Trōv uses all the information you provide and structures it to come up with their advice of opportunities.
But how does your jewelry ends up in the cloud? Very easy, by making a snapshot of the product and the bill. Once this is done (Trōv calls this ‘collect’), see the picture below, you can share the product with your friends or advisers or even can request insurance of your product. So that is why they have the 3 steps: Collect – Value – Connect.
They provide a platform to see what you own and what the value is of what you own. This makes Cash/Investments just as valuable as your jewelry, car or arts. By the way, this platform provides awesome opportunities for analysis on investment behavior and personal assets of the wealthy individuals.
The Added Value of bringing all your assets to the cloud
The added value with regards to wealth management describes Trōv on its website as follows: “With nearly half of the world’s personal household wealth held in tangible assets, Trōv uniquely equips its members with the reports and information necessary to achieve a more complete and accurate picture of their wealth. And since much of tangible wealth is in “passion investments”, wealth managers are finding new ways to provide better service for their clients”.
But is this cloud-solution different from running an online platform? I personally don’t think it is from a client/user perspective. It is only cheaper, faster and probably has less technology ‘hick-ups’ from a maintenance perspective. On the other hand it still faces the existing risks on Privacy and data breaches. Trōv has a Privacy Officer and high security standards to ensure safety of all (very personal) data in their cloud.
I am pretty excited about it. If you want to find out more, please have a look at their website www.trov.com