About Proova

The Problem We Solve

Proova was developed as the answer to stopping fraudulent and lengthy insurance claims. 

It all started from the founders' experience of trying to place self-drive and motor trade insurance after a break in. The first thing was attempting to catalogue the lost items and we spent over a year looking for things after the claim was settled that were not known to be lost before the claim was settled. The Claims wasn't large at around £15,000 but it took 6 months to settle.  What we found was a disjointed process and insurers terrified of the potential for fraud, that even with six-year no-claims bonus in self drive hire we were not considered worthy to be offered insurance. So we started looking at the root causes of these market issues in insurance and in specific sectors; we found a common set of issues and but more startlingly, just how much fraud exists across the market for insurance. These were:

• Exaggerated claims, one insurer in the tenants' home contents market found 95% of burglary claims included a claim for a top spec Dyson vacuum cleaner.
• After the event fraud is rife in the motortrade, one vehicle repair bodyshop we spoke to claimed that he is asked around 5 times a week to repair cars he knows were damaged before they were insured or for just pre-existing damage.
• One loss adjuster told us he has visited the home of an executive of a major supermarket every year for 5 years, as the person has lost a high-value watch every time they have been on holiday.

Proova is designed to stop both issues, settle a claim quickly for what you had and prevent unscrupulous actors from making exaggerated claims and forcing up insurers' costs and ultimately people's premiums.

Who We Are?

Proova was created by industry professionals who were in need of a cover solution in their own world; as with everything else, this is where great ideas originate. This simple app serves as a vault and thorough record of your possessions, assets, and priceless items. If the worst-case scenario arises, Proova can prove what you had and where had it. As an insurer, this eliminates the need for costly loss adjusters, expedites cases, lowers administrative costs and reduces fraud.

Our Solution

The three-layer verification approach:

• Bank grade ID and KYC
• GeoCoded and AI verified Imaging
• Bank address check

All images are stored securely in a vault and are available for any claim. A version of the product is available for underwriting and pre placing of insurance risks.

Can you prove what you have and when you had it?