Glossary

Claim. A customer’s request for repair, replacement or compensation under a policy.

Classification. Phew’s automatic assessment of what a product is and whether it can be insured, done for every item in every offer.

Drop-in SDK. Phew’s JavaScript library that renders the complete offer in your page, styled to your brand.

Cooling-off period. The period after purchase in which the customer can withdraw from the cover for a full refund.

Cover. The protection a policy gives: accidental damage and breakdown of the insured item.

FAPI 2.0. The Financial-grade API Security Profile from the OpenID Foundation, used in open banking. Phew’s Bank-grade level is aligned with it.

IPID. Insurance Product Information Document: a standard, short summary of the cover that the customer must be able to read before buying.

Idempotency key. A unique value sent with a request so that retrying it never performs the action twice.

Iframe embed. The Phew offer rendered in an isolated iframe, for pages and apps that don’t allow third-party scripts.

Insurer. The licensed insurance company that underwrites the cover and carries the risk.

Intermediary. A party that distributes insurance on behalf of an insurer. Phew is the intermediary; merchants and partners showing the offer take part in distribution.

Merchant. The webshop that sells the insured item.

mTLS. Mutual TLS: both client and server present certificates, so each side authenticates the other.

Offer. The plans and prices returned for a cart, valid for 30 minutes.

Partner. A payment provider, bank, platform or agency that integrates Phew for multiple merchants.

Plan. A cover option with a fixed term, for example 1 year or 3 years.

Policy. The contract covering one unit of one item for the plan’s term.

Premium. The price the customer pays for the cover, including insurance premium tax.

private_key_jwt. OAuth 2.0 client authentication where the client signs a short-lived JWT with its private key instead of sending a shared secret (RFC 7523).

Repair-first. Phew’s claims approach: damaged items are repaired where possible, and only replaced or compensated if they can’t be.

Sandbox. The test mode. Sandbox requests never create real policies, send emails or move money.

Split settlement. Routing the premium to Phew directly from the payment at capture.

Statement. The monthly settlement document listing premiums, refunds, commission and the net amount due.