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Vave’s underwriting is powered by proprietary technology to provide near-instant quoting
- Via an API, Vave can be plugged into any insurance distributor’s application.
- Brokers can send property information, via their app, into the Vave system for a quote, a request to bind or an endorsement.
- To assess the risk, Vave will access more than 800 data fields to provide an accurate, near real-time insurance quote.
- The quote is analysed for risk metrics and validated against underwriting appetite automatically.
- Finally, a premium is calculated by Vave’s algorithmic pricing engine and sent back to the broker.
- Every quote or bind Vave ever does is processed and stored to feed future pricing model insights and near real-time exposure management. Vave’s underwriting is informed by $3.6trn’s worth of detailed historic property exposure and claims data.
- Vave also adjusts pricing to control exposures and maximise diversification within its own portfolios.
Since 2019, Vave has quoted on more than four million unique risks all over the United States.
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