Melbourne, Australia (CU)_ Eric Insurance, headquartered in Melbourne, will underwrite domestic start-up Koba’s pay-per-kilometre vehicle insurance product, which will hit the market in October. Launching a new user-centered method in Australia, Koba claims that its novel telematic approach will alter the car insurance business. According to Andrew Wong, Koba’s founder, the new alliance will help the company to quickly enter the market and meet customer service demands. Mr Wong said, “Eric’s motoring expertise, experience over the last 20 years and collaborative approach is uniquely complimentary to a start-up like ours”.
Koba claims that it is well positioned to make a transition from traditional to usage-based insurance, with numerous automobile manufacturers introducing connected models next year. Mr Wong said, “The OEMs will drive this change. It’s our opportunity as an insurtech to work with the change, not against it”.
Koba is currently testing its product and plans to release it to the general public in October. It collected…
