For anyone interested, there is quite a bit of info about KOBA available on Birchal's website from their round of funding in August 2022.
My 2c below FWIW.
Pros:
+ Decent unit economics. Early days but LTV/CAC and loss ratios look good.
+ Low km product maybe a viable niche.
+ Nice website, smooth experience getting a quote, competitive pricing.
+ Great reviews on trustpilot.
+ Big upside potential with telematics (the PDS mentions acceleration and braking data)
+ Head of insurance / underwriting is ex-Progressive, which is relevant given the telematics angle.
Cons:
- Massively sub-scale. 600 customers at Aug-22. Maybe 1000 now? Needs to scale 10x to 50x to become viable. Not clear how they get there given the small base and hyper-competitive market.
Interesting:
* Tom and Tony were angel investors / hold convertible notes outside of ENA
- Forums
- ASX - By Stock
- Ann: Strategic Investment in KOBA Insurance
For anyone interested, there is quite a bit of info about KOBA...
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