Wax Insurance

Wax Insurance (branded WAX, with a "Wax Collect" cataloging feature) offers a mobile application that lets collectors build a digital inventory of personal valuables and buy insurance coverage for them. Users add items through in-app photography and category-specific prompts spanning more than 30 collectible categories, including watches, handbags, jewelry, fine art and trading cards, creating a viewable library of items with tracked values and records suitable for insurance purposes.

From the same app, customers select any number of catalogued items to receive a bindable quote and secure a policy, and can subsequently edit the policy when items are added, sold, or when an item's market value changes. Policies are underwritten by Chubb. The app is distributed through the Apple App Store and Google Play, and the company also supports customers through a VIP Concierge team and named staff including a Director of Underwriting.

Business model

WAX distributes insurance for personal collectibles and luxury items directly to consumers through its app, with the underwriting risk carried by Chubb. Coverage is quoted and bound in-app on the basis of items the user catalogs, and policies can be amended as a collection changes.

Traction

Published customer testimonials describe completed onboarding and bound policies covering watch collections, artwork, jewelry and trading cards, with one reviewer noting awareness of WAX since around April or May 2020. The app is listed on both the Apple App Store and Google Play.