Andrew Wong
Founder
KI
KOBA Insurance
KOBA offers pay-per-kilometre car insurance that connects to a vehicle's onboard computer, allowing for personalized coverage based on actual driving habits. This model addresses the issue of traditional insurance models that do not account for low-usage drivers, providing transparent pricing and proactive vehicle care monitoring.
- Artificial Intelligence
- Financial Technology
- Insurance Technology
- Mobility & Transportation
- Software Only
Updated 7 months ago
Funding
Raised to date
$3.8MRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Funding rounds are not available yet.
Founders
Product
Problem
Traditional car insurance models often fail to accurately reflect individual driving habits, leading to unfair premiums, especially for low-mileage drivers. These conventional insurance policies do not leverage available vehicle data to offer personalized coverage and proactive vehicle care.
Solution
KOBA offers a pay-per-kilometer car insurance solution that utilizes smart technology to connect with a vehicle's onboard computer, enabling personalized coverage based on actual driving behavior. This connected approach allows for transparent pricing, where drivers pay a fixed upfront cost for parked coverage and a variable rate per kilometer driven. KOBA's system tracks trips and associated costs via a mobile app, providing users with clear visibility into their insurance expenses. The platform also offers proactive car care monitoring, leveraging vehicle data to assist drivers in maintaining their vehicles.
Target Audience
KOBA primarily targets low-mileage drivers and electric vehicle owners seeking personalized and transparent car insurance options.
Features
- Pay-per-kilometer pricing model, charging only for the distance driven.
- Connection to the vehicle's onboard computer for accurate mileage tracking.
- Mobile app displaying trip history, insurance costs, and policy documents.
- Capped price promise, limiting daily and monthly kilometer charges.
- Proactive car care monitoring to assist with vehicle maintenance.
- Specialized EV insurance options, including coverage for charging equipment and EV hire car after theft or accidents.
- Tesla certified repairers in network for EV insurance customers.