Solva

What do they actually do

Solva sells an enterprise AI tool for insurance claims. Their domain‑specific agents read claim files, check policy wording and evidence, spot missing or inconsistent items, compare facts to coverage terms, flag suspicious patterns, and produce recommended next steps with source citations and an audit trail (Solva site; About; YC post).

Insurers plug Solva into existing claims workflows. A typical flow is: ingest documents/case data, analyze, then either auto‑complete routine tasks or surface flags and a sourced recommendation for an adjuster; all actions are logged for audit. Public materials emphasize stopping incorrect payouts and reducing handling time. The team is early‑stage (YC S25), actively hiring and running demos; the site does not list named customers publicly (Solva site; About; YC company page).

Who are their target customer(s)

• Front‑line claims adjusters (auto/property, high volume): They spend hours reading documents and worry about missing facts or over‑paying. They want missing/inconsistent evidence flagged and clear next steps to speed decisions (About).
• Specialist/commercial adjusters (complex coverage): They struggle to parse dense policy wording and map facts to exclusions/conditions. They need exact clause matches with cited evidence to justify decisions (About).
• Claims operations managers: They face high handling costs, inconsistent outcomes, and missed SLAs. They need tools that reduce handling time and prevent incorrect payouts to cut loss leakage (Solva site).
• Special Investigations Units (SIU) / fraud teams: They must find suspicious patterns across many claims with limited time. They need prioritized flags with supporting evidence to focus investigations (About).
• Compliance, audit, and risk officers: They must defend decisions to regulators and auditors but lack reproducible trails. They need source‑cited, auditable recommendations and logs with no black boxes (Solva site; About).

How would they acquire their first 10, 50, and 100 customers

• First 10: Run paid, time‑boxed pilots with individual claims teams; Solva engineers handle integration and a CS lead aligns sources and audit trails to the insurer’s workflow, with a clear KPI and an auditable ROI summary at close (About; YC page).
• First 50: Productize the pilot into a fixed 30–90 day package with connectors to major claims platforms; hire insurance AEs/solutions engineers and add a few SI/broker partners to handle bespoke integrations (About; YC page).
• First 100: Expand channels (TPAs, brokers, marketplaces), add a lower‑touch SaaS tier for high‑volume routine lines, and provide compliance artifacts/certifications to streamline procurement at larger carriers.

What is the rough total addressable market

Top-down context:

Global P&C premiums were about €2.15T in 2023; claims‑handling/adjustment costs are commonly a mid‑single‑digit share of premiums, implying an annual spend pool of roughly €86–151B (Allianz Global Insurance Report 2024; PwC leakage commentary).

Bottom-up calculation:

Claims‑automation/claims‑management software is ~$4–5B today with forecasts to the low‑teens of billions by the early 2030s, aligning with a 5–10% capture of claims‑handling budgets as adoption grows (Fortune Business Insights; Market.us; Deloitte outlook).

Assumptions:

• Focus on global P&C premiums as the relevant base for Solva’s use cases.
• Claims‑handling/adjustment expense approximated at 4–7% of premiums across lines/markets.
• Long‑term software spend captures 5–10% of claims‑handling budgets; near‑term matches current ~$4–5B market size.

Who are some of their notable competitors

• Shift Technology: AI platform for claims fraud detection, payment integrity, and broader claims automation; overlaps with Solva on fraud‑flagging and decision support, especially for SIUs.
• Tractable: Computer‑vision AI for vehicle/property damage and estimating; overlaps on automating routine claim decisions but focuses more on image‑based assessment than policy‑wording audit trails.
• Snapsheet: End‑to‑end claims platform with workflows, document management, and automation; overlaps where carriers want to operationalize decisions inside their claims system.
• FRISS: Fraud and risk scoring for P&C claims; competes directly on real‑time screening, triage, and investigation prioritization.
• CCC Intelligent Solutions: Enterprise claims vendor for auto physical damage and casualty with AI estimating and integrations; competes at the platform layer for adjuster automation and estimating.