WAX
WAX Insurance Services is a mobile-first InsurTech platform that lets individual collectors and small businesses document and insure luxury assets and collectibles across 30+ categories, with policies underwritten by Chubb and sold direct-to-consumer or via licensed agent producers in the US and UAE.
- Company typePrivate
- Founded2018
- HeadquartersNew York, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What WAX does
WAX Insurance Services LLC is a US-based InsurTech operating a mobile-first digital insurance agency dedicated to luxury assets and collectibles. The company's core product is a proprietary iOS/Android (and web) application that allows individual collectors and small businesses to document items via in-app photography across 30+ collectible categories - including watches, handbags, jewelry, fine art, trading cards, collector cars, spirits, and sports memorabilia - and receive an instant bindable insurance quote without the traditional appraisal-and-paperwork cycle for most items. The platform incorporates category-specific intake prompts, real-time market data validation against user-declared valuations, up to 150% market appreciation protection, 90-day automatic coverage for newly acquired items, and a VIP Concierge team for complex submissions. Policies are underwritten by Chubb through a digital distribution partnership in which Chubb receives first-look on eligible submissions while WAX retains carrier-agnostic placement for non-fitting risks.
WAX earns revenue primarily through commissions on insurance premiums placed with carrier partners, priced as a percentage of insured collection value (approximately 1% for watches and jewelry, 0.4% for categories such as handbags and trading cards), billed annually. The go-to-market combines a product-led growth motion (app store discovery, organic social, referral) with a parallel channel motion through licensed insurance agents/brokers acting as producers, plus a dedicated enterprise motion for businesses owning luxury inventory (galleries, dealers, showrooms). Geographic coverage is currently limited to United States and UAE residents. WAX is a privately held, founder-led company operating as WAX Insurance Services LLC under California Insurance License #6002383, with disclosed venture funding of approximately $10M raised in May 2022 from AV8 Ventures, Slow Ventures, Expansion Venture Capital, NVP Capital, and Timber Grove Ventures.
WAX firmographics
Firmographics- Name
- WAX
- Legal name
- WAX Insurance Services LLC
- Website
- https://wax.insure
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- WAX Insurance Services is a mobile-first InsurTech platform that lets individual collectors and small businesses document and insure luxury assets and collectibles across 30+ categories, with policies underwritten by Chubb and sold direct-to-consumer or via licensed agent producers in the US and UAE.
- Ownership category
- akta.pro rank
WAX industry classification
Industry- Product category
- Specialty Collectibles Insurance
- NAICS
- Hobby, Toy, and Game Retailers (459120), Sporting Goods, Hobby, Musical Instrument, Book, and Miscellaneous Retailers (459)
- SIC
- Retail-Jewelry Stores (5944)
- akta.pro primary industry
- Pre-owned/Vintage Jewelry & Watch Retail (Resale) (CRAKAGAI)
- akta.pro secondary industry
- Entertainment Memorabilia Retail (Film/TV/Music) (CRALAGAJ)
Keywords
Where WAX is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
WAX business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- Insurance Premium Revenue (Commission-Based): WAX earns commissions from insurance carriers (primarily Chubb) for policies placed through its platform. As an independent carrier-agnostic agency, WAX structures solutions, negotiates terms with carriers, and earns a distribution fee on each bound policy. Premiums are calculated as a percentage of the insured collection value (e.g., ~1% for watches/jewelry, ~0.4% for handbags/trading cards).
- Agent/Broker Producer Commissions: WAX also distributes through insurance brokers and agents (evidenced by producer references in customer reviews) who offer WAX policies as part of their portfolio, earning commissions on placed business.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Percentage-of-value pricing with no publicly listed tiers |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
WAX product offering
Product offeringCore offering
WAX operates a mobile-first InsurTech platform that lets collectors organize, value-track, and insure luxury assets and collectibles across 30+ categories (watches, handbags, jewelry, fine art, trading cards, collector cars, spirits, sports memorabilia). Customers photograph items inside the app, receive an instant bindable quote, and purchase Chubb-underwritten annual policies priced at roughly 1% of value for watches/jewelry and 0.4% for other categories, with worldwide coverage, no deductible, and up to 150% market appreciation protection.
Product overview
WAX is an InsurTech platform dedicated to luxury assets and collectibles insurance, operating as an independent, carrier-agnostic insurance agency. The core offering consists of the WAX App and WAX Webapp, which enable collectors to organize and track their valuables across 30+ categories (watches, handbags, jewelry, fine art, trading cards, spirits, sports memorabilia, and more) and obtain instant insurance coverage underwritten by Chubb. The platform provides features including in-app photography, real-time market value tracking, and policy management with up to 150% market appreciation protection.
Differentiator
Problem solved
Functional benefit
Products and services
- WAX App Mobile application for iOS and Android that allows collectors to organize, track, and insure their valuables across 30+ categories including watches, handbags, jewelry, fine art, trading cards, and collectibles. Users add items via in-app photography and category-specific prompts, receive instant insurance quotes, bind Chubb-underwritten policies, and manage their coverage directly in the app.
- WAX Webapp Web-based platform (webapp.waxcollect.com) providing the same functionality as the WAX mobile app, allowing users to organize collections, get instant quotes, and purchase Chubb-underwritten insurance policies through a browser.
- WAX Collectibles Insurance Annual insurance policies covering luxury assets and collectibles worldwide, underwritten by Chubb. Coverage includes worldwide protection for most causes of loss with no deductible, up to 150% market appreciation protection, 90-day automatic coverage for newly acquired items, and comprehensive coverage for damage from fire, theft, earthquake, flood, and accidental breakage. Premiums priced as roughly 1% of collection value for watches/jewelry and 0.4% for other categories such as handbags and trading cards.
Quantifiable outcome
- Premium rates as low as 1% of collection value for watches and jewelry; 0.4% for other categories such as handbags or trading cards
- +4 more outcomes
Companies that use WAX
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles3 records
WAX technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
WAX partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights6 records
WAX competitors and assessment
Company assessmentDirect peers
- Collectibles Insurance Agency: Specialized insurance agency offering collectibles coverage across multiple categories (coins, trading cards, memorabilia). Directly comparable to WAX as a niche-focused collectibles insurance intermediary, though with a more traditional brokerage model.
- American Collectors Insurance: Long-established specialty carrier focused on collector vehicle and classic car insurance. Comparable to WAX in its niche-insurance specialization and collector-first positioning, and represents an adjacent specialization within the collectibles insurance category.
- Jewelers Mutual: Specialty insurer focused exclusively on jewelry and watch coverage for consumers and the jewelry industry. Comparable to WAX in its category specialization on jewelry/watches, though with a longer history and broader jeweler trade relationships.
- CollectorProtect: Specialty insurance program offering scheduled personal property coverage for collectors including watches, jewelry, and memorabilia. Directly comparable to WAX in targeting the same collector persona with category-specific coverage.
Broad incumbents
- PURE Group: Member-owned insurer serving high-net-worth individuals with home, auto, and valuables coverage. Comparable to WAX as a high-value personal lines insurer for affluent clients, but operates as a broad incumbent carrier rather than a digital-first specialist.
- AIG Private Client: AIG's high-net-worth division providing bespoke personal insurance including jewelry, art, and collectibles. Comparable to WAX as a provider of luxury-asset insurance for affluent customers, with a much broader product suite and traditional service model.
- Chubb Masterpiece: Chubb's flagship high-net-worth personal lines product covering homes, collections, jewelry, and fine art. WAX is itself built as a digital distribution layer on Chubb's underwriting infrastructure, making Chubb Masterpiece both a partner and an incumbent competitor.
Emerging players
- Lemonade: Public InsurTech using a mobile-first, AI-driven model to sell personal lines insurance. Comparable to WAX in its digital-first approach and PLG motion, though Lemonade focuses on renters/homeowners rather than luxury collectibles.
- Hippo Insurance: InsurTech modernizing homeowners insurance with a focus on proactive protection and digital experience. Comparable to WAX as a digitally-native personal lines InsurTech, with overlap in addressing underinsured affluent homeowners.
- AssetSure: Specialist insurance provider focused on insuring high-value personal assets including jewelry, watches, and fine art. Direct overlap with WAX's core categories, with a more traditional broker-mediated distribution model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
WAX social profiles
Digital presenceWAX financial estimates
Financial estimateRevenue estimate
Valuation estimate
WAX leadership team
Management profileNumber of profiles
Profiles5 records
WAX funding detail
Funding detailFunding overview
Funding rounds4 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
WAX M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about WAX
What does WAX do?
WAX operates a mobile-first InsurTech platform that lets collectors organize, value-track, and insure luxury assets and collectibles across 30+ categories (watches, handbags, jewelry, fine art, trading cards, collector cars, spirits, sports memorabilia). Customers photograph items inside the app, receive an instant bindable quote, and purchase Chubb-underwritten annual policies priced at roughly 1% of value for watches/jewelry and 0.4% for other categories, with worldwide coverage, no deductible, and up to 150% market appreciation protection.
Is WAX a public or private company?
WAX is a private company. It is classified as venture growth investor backed and is currently operating.
When was WAX founded?
WAX was founded in 2018. It employs 11 to 50 people.
Where is WAX based?
WAX is headquartered in New York, United States, in the North America region.
How does WAX make money?
Two revenue lines are on record. Insurance Premium Revenue (Commission-Based) is the primary driver. The others are agent/Broker Producer Commissions.
Who are WAX's main competitors?
Direct peers on record are Collectibles Insurance Agency, American Collectors Insurance, Jewelers Mutual and CollectorProtect. Broad incumbents are PURE Group, AIG Private Client and Chubb Masterpiece. Emerging players are Lemonade, Hippo Insurance and AssetSure.
Does WAX have an API?
No public API is recorded for WAX.
What industry is WAX in?
WAX's product category is Specialty Collectibles Insurance. Its primary akta.pro industry code is CRAKAGAI, Pre-owned/Vintage Jewelry & Watch Retail (Resale), with a secondary code of CRALAGAJ, Entertainment Memorabilia Retail (Film/TV/Music). Its NAICS code is 459120 and its SIC code is 5944.