Country: United States
Year: 2015
UVAMO connects customers looking to be insured with other customers looking to invest
Concept
- UVAMO crowdfunds insurance capital with investors that back diversified pools of policies
- UVAMO leverages online data and technology to price each potential policyholder and create an interactive insurance marketplace. Customers can update their coverage preferences and see prices adjusted in real-time
- At the end of the year, investors receive a share of the remaining premium pool after all claims have been paid out
Consumer Benefits
- UVAMO’s algorithm for pricing leverages technology and online data, cutting higher operating costs of traditional carriers, which they claim will lead to lower overall premiums for potential policyholders
- Investors have the opportunity to receive returns based on claims performance over the course of the year
How to use it
- As of this writing, the website is not live. We believe the website will work as Lending Club does, with a dedicated section for insurance customers and a dedicated section for investors willing co-own an insurance pool
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