Koba driving image

Pay-per-km car insurance for Australia

Koba Insurance

The less you drive, the more you’ll save.

WHAT IS KOBA INSURANCE?

KOBA Insurance is on a mission to help over 10M Aussie drivers lower their annual premiums by only charging them for what they use.

Powered by an IoT technology platform that connects directly to your car’s onboard computer, KOBA is pioneering pay-per-kilometre car insurance, providing an alternative, fairer solution to low-usage drivers.

See real-time trips, costs and car care tips through our app. Drivers only pay-as-you-drive (PAYD); so the less you drive, the more you’ll save.

FOUNDER

Andrew Wong has been on the forefront of digital media and marketing for most of his career, always on the edge of change. Holding a Masters in Business Entrepreneurship, Andrew has launched 3 small businesses and successfully raised money twice for start-ups.

 

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WHY IT WORKS

Did you know in 2020, Australian insurance majors pocketed an extra $800M despite reduced mobility? This is because they use aggregate data models to price premiums for large populations.

With KOBA, our real-time, comprehensive insurance means drivers benefit from transparent pricing, where they pay just a few cents per km they drive. Most new cars now are connected cars and fitted with smart technology, so why not make the way we insure them smart too?

 

MORE ABOUT THE FOUNDER

Andrew Wong has been on the forefront of digital media and marketing for most of his career, always on the edge of change. Holding a Masters in Business Entrepreneurship, Andrew has launched 3 small businesses and successfully raised money twice for start-ups.

In his corporate roles, most notably as Global Digital IT Director at Reckitt Benckiser, Andrew focused his teams on scaling up internal business units through digital IT solutions across multiple markets. 

In 2016, Andrew moved his family to San Francisco to be in the heart of high-growth tech start-ups. In 2 years, he raised Seed funds for a food logistics start-up and carbon-neutral beef product. Concurrently, Andrew worked for AAA (American Automobile Association) driving their digital IT, media and digital acquisition programs. It was here that he found the solution and inspiration for KOBA Insurance.

“The Insurtech Gateway Australia team know just about everyone in the market. I’m excited to learn and connect with industry experts who can help guide our business through the perils of start up life.”

Andrew Wong, Co-Founder and CEO at Koba Insurance

“The mobility market, incorporating vehicle commuting, is increasingly moving to merely transport rather than ownership. To have an insurance product that understands and aligns with this marketplace, means we are ahead of the game.

Based on current take-up rates in the US, EU and APAC, usage based motor insurance was forecast to grow at 85% YoY to 2027 ($25Bn USD to $115bn USD). The benefits of PAYD  are cost and flexibility. With daily and monthly caps, there is no downside. ”

Simon O’Dell, CEO at Insurtech Gateway Australia

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