We started Vave in 2018 with a straightforward vision: bring precision underwriting to the catastrophe-exposed property market.
Fast forward to the end of 2021 and we witness another year of record-breaking weather in the United States. The third most costly hurricane season on record, the second consecutive year that the season has exhausted the National Hurricane Center of storm names, and the sixth consecutive above-average season.
The climate is changing, risk assessment is becoming more complex – the industry has a vital need for precision underwriting. Vave’s mission is to offer stability and choice to policyholders when they need it most, and we’re proud to say that we are delivering on these fronts.
2021 was a year of milestones
Vave launched as an MGA in June allowing us to scale to meet our ambitions. We welcomed new team members: Emma, Katie, Sid, Georgia. We achieved 4 times growth in premium under management. We offered quotes on 1.2 million homes. The Vave data universe that powers our algorithms exceeded $2 trillion exposed limit.
What will 2022 bring?
Our commercial property product, embedded with a first of its kind parametric weather component. Advanced analytics initiatives that glean cutting edge insight from our vast dataset. Face to face collaboration with our various partners both old and new.
It is with profound gratitude to our financial backers, distribution partners, analytics partners and customers that we share Vave’s achievements over the past year and focus on our ambitious plans for 2022.
Wishing you all health and happiness in the New Year.
Marek, Jamie and Rob