Suncorp is set to roll out an app-powered “mobility insurance” product designed to meet the evolving transportation needs of consumers.

insuranceNEWS.com.au understands the launch will probably take place early next year.

Suncorp is in the final stage of testing the Personal Auto & Mobility Insurance product in collaboration with Trov, the US-based insurtech in which the insurer has invested at least $US8.1 million ($11.7 million) for a minority stake.

“The new insurance product will be launched under one of our existing brands, and will reward customers using different forms of mobility that are now an integral part of our lives,” Suncorp Executive Manager Commercial Partnerships Nick Heggie told insuranceNEWS.com.au.

Suncorp declined to elaborate further on the specifics of the cover beyond what is available in a press release issued by Trov.

The release says the cover represents a step up in providing consumers with simple, engaging and rewarding experiences.

“This new product will do this by evolving traditional auto insurance to include cover and rewards for different forms of mobility,” Mr Heggie said.

“We are excited to expand our partnership with Trov, and together explore how we can better meet our customers' changing needs in the mobility space.”

According to Trov founder and CEO Scott Walchek, the project started more than a year ago.

He says the app-based cover “completely reimagines” the way personal auto insurance is currently offered.

Codenamed Pilgrim, users can expect an intuitive solution to quote, bind, maintain and claim for auto cover.

“It seemed obvious to us that traditional auto insurance is out of sync with the shape of modern personal mobility,” he wrote in a blog post on Trov.

“Its launch by Suncorp will further showcase the power and versatility of our multi-product, end-to-end insurtech platform.”