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Nuvalaw

Insurance / Insurtech · UK

PilotUKINSEADSDG 16
Willie PienaarAB

Willie Pienaar · Alex Pienaar · Bernard van Bunnik

About Nuvalaw

After a car accident, somebody owes somebody money. For the repairs, replacement car, or the injury. When the two sides cannot agree, there is one route to a binding decision: a court, with a wait of a year or more. We built the other route. Both sides put the claim on our platform, Interact, and negotiate inside fixed deadlines. If they agree, it is finished. If not, it goes automatically to an independent arbitrator with judicial experience of deciding these claims in court. A few days on average, with a binding outcome, enforceable like a court judgment. One platform handles all three types of motor claim: personal injury, replacement vehicle costs, and insurers recovering from each other (vehicle damage subrogation). On our savings model, insurers spend in the region of 75% less running a smaller claim through us than through court, and in the region of 70% less on a larger one. And that is strictly handling cost, not the compensation paid.

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Founders

  • Willie Pienaar

    Willie Pienaar

  • A

    Alex Pienaar

  • B

    Bernard van Bunnik

Details

Stage
Pilot
Sector
Insurance / Insurtech, B2B
Country
UK
Region
UK
Source
INSEAD
UN SDGs
SDG 16