In a property insurance market shaped by climate, inflation, and shifting exposures, underwriting properties needs more than intuition – it needs intelligence. At Vave, augmented and rich data plays a vital role in our underwriting approach, delivering a smarter, faster way to quote and bind across Homeowners, Commercial Property, Flood, and Earthquake lines.
What is augmented data?
Vave’s underwriting is powered by traditional inputs – information we receive as part of the application – and enriched, near real-time insights. This could be near real-time weather information, satellite imagery or tax-assessor data. These sources combined is what we refer to as ‘augmented data’.
This augmented data allows us to:
- Reveal subtle property risk indicators that would have otherwise been overlooked
- Deliver more accurate pricing on high-quality properties
- Improve risk selection with greater confidence
Data-rich decision making
Having an accurate view of the property risks you write is a great start – but what sets Vave apart is our ability to pair that with an expansive data estate, built from more than two trillion dollars’ worth of exposure records and claims results. This gives us unmatched visibility into how property damage and losses behave in the real world.
This data richness is the foundation for our proprietary pricing system: one that’s grounded in actual claims experience, enriched by independent, augmented views of exposure, and designed to evolve.
As we gather more data, we can learn and adapt, making smarter underwriting decisions with every quote that we write.
Data partnerships that power precision
Our partnerships with leading data providers are a cornerstone of our augmented data underwriting approach. From hazard metrics to building characteristics, their enriched datasets support the intelligence behind our pricing engine. These relationships allow us to move beyond the limitations of legacy data, bringing accuracy and consistency to every quote.
Among our data partners, e2value plays a critical role in property valuation. Its innovative approach to replacement costs of a property’s structure delivers accuracy and reliability, whether we’re quoting a single-family home or a more complex commercial property.
By leveraging granular property details and a market-based approach, e2value helps us deliver consistent valuations that align with actual replacement costs.
At Vave, we believe better data leads to better decisions. And better decisions drive better outcomes. By combining enriched insights, trusted partnerships, and a deep pool of real-world data, we’re reimagining what underwriting can be.
