Wax

Wax's core business revolves around offering mono-line collectible insurance policies, underwritten by major carriers like Chubb, which protect collectors against loss, damage, and theft globally. The company generates revenue by providing these insurance products. Its business model integrates technology to simplify the historically cumbersome insurance process. Clients use a mobile application to catalog their valuables, receive quotes, and bind policies digitally, often within minutes. This streamlined, quote-to-bind experience is a key differentiator from traditional insurance providers. The company caters to owners of a wide array of items across more than 30 categories, including watches, jewelry, fine art, collector cars, handbags, and sports memorabilia.

The platform functions as a digital wallet where users can create a visual library of their items, track values, and manage their insurance coverage. Key features of the insurance product include worldwide coverage, zero-deductible policies, and an "agreed value" coverage that ensures policyholders receive the total insured value in the event of a total loss. Furthermore, the policy offers protection against market value volatility, covering up to 150% of an item's insured value in some cases. This approach allows collectors not only to protect their assets but also to potentially unlock liquidity and build wealth without selling them. Wax has also established referral partnerships with brands, retailers, and auction houses to integrate its services at the point of sale.