KOBA pronounces underwriter for brand spanking new automobile mileage insurance – insurance business
Commenting on the partnership, KOBA founder Andrew Wong: “We look forward to working with eric when we bring KOBA to market this October. Eric's motor know-how, the experience of the last 20 years and the cooperative approach complement a start-up like ours in a unique way. This partnership will allow us to get to market quickly and meet customer service needs immediately. "
Eric CEO Malcolm Tilbrook added, “KOBA has a great team and we were impressed from day one. They have an excellent mix of seasoned insurance veterans and proven start-up talent who have worked directly with eric executives. We throw our full support behind them and are excited to see what they can produce.
“Global investments in Insurtech are at an all-time high. It makes good business sense to explore new solutions. eric can provide the guidance and direction to find your way around this heavily regulated industry and to give KOBA the confidence and the best chances of success. "
Continue reading: KOBA introduces car insurance based on kilometers driven in Australia
On August 26, KOBA also opened its crowdsource financing round with Birchal, a large community of investors, met its minimum target in the first two hours and closed the first day with $ 525,000 from 160 investors.
Wong commented, “KOBA believes the shift towards customer-centric insurance products will begin in our own communities, so we have invited everyone to get involved. The support from our EOI phase and the funds raised were incredible and show that the people behind Insurtechs are ready for our new usage-based approach. "
KOBA is currently in the beta test phase and will use the next round of funding to raise awareness among early adopters, improve the app experience and welcome important new hires to complete the team.
KOBA will be launched in October 2021 and the investment offer through Birchal will continue until KOBA reaches $ 1 million.