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{{Short description|German insurer}}
{{Undisclosed paid|date=May 2021}}
{{Orphan|date=May 2021}}
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'''Coya AG''' is a German [[Property insurance|property and casualties]] insurance provider headquartered in [[Berlin]] offering liability policies for people and pets as well as home content and bicycle theft insurances. Coya delivers [[Insurance policy|insurance policies]] and handles claims through desktop and mobile apps.
{{Infobox company
| name = Coya AG
| logo =
| logo_caption =
| logo_alt =
| type = [[Private company]]
| industry = [[Insurance]]
| founded = {{Start date |2016}}
| founder = Andrew Shaw, Dr. Peter Hagen and Sebastián Villarroel
| defunct = {{End date|2022|01|18}}
| fate = Acquired
| successor = Luko (later GetSafe)
| hq_location_city = [[Berlin]]
| hq_location_country = [[Germany]]
| area_served = Germany
| key_people =
| products = [[Property insurance]] [[Casualty insurance]]
| owner = Luko (later GetSafe)
| num_employees =
| num_employees_year = <!-- Year of num_employees data (if known) -->
| parent =
| website = {{URL|https://coya.com/}} {{deadlink|date=May 2024}}
}}


⚫
'''Coya''' was a German [[Property insurance|property and casualties]] insurance provider headquartered in [[Berlin]] offering liability policies for people and pets as well as home content and bicycle theft insurances. Coya delivered [[Insurance policy|insurance policies]] and handled claims through desktop and mobile apps. The company was acquired by French insurance startup Luka in 2022 and the company and all policies was renamed as Luko which would later be renamed GetSafe.<ref name=tech1>{{cite news |url=https://techcrunch.com/2022/01/19/insurtech-startup-luko-acquires-coya-and-gains-insurance-license/ |title=Insurtech startup Luko acquires Coya and gains insurance license |date=January 19, 2022 |publisher=TechCrunch}}</ref>
⚫
The company is licensed under the issue by the German Federal Financial Supervisory Authority ([[BaFin]]),<ref>{{Cite web|last=|first=|date=|title=Insurtech Coya receives license from German Regulator|url=https://www.the-digital-insurer.com/dia/insurtech-coya-receives-license-from-german-regulator/|url-status=live|archive-url=|archive-date=|access-date=October 20, 2020|website=The Digital Insurer|url-access=registration}}</ref> enabling it to offer its own insurance policies. Coya firstly launched its home content insurance<ref>{{Cite press release|publisher=Coya|date=September 26, 2018|title=Berlin-Based Insurtech Firm Coya Launches with Home Content Insurance – as a Start|url=https://www.insurancejournal.com/news/international/2018/09/26/502348.htm|url-status=live|archive-url=|archive-date=|access-date=October 13, 2020|via=Insurance Journal}}</ref> and now offers a variety of insurance products such as:


⚫
The company was licensed by the German [[Federal Financial Supervisory Authority]] ([[BaFin]]),<ref>{{Cite web|last=|first=|date=|title=Insurtech Coya receives license from German Regulator|url=https://www.the-digital-insurer.com/dia/insurtech-coya-receives-license-from-german-regulator/|url-status=live|archive-url=https://web.archive.org/web/20201026071514/https://www.the-digital-insurer.com/dia/insurtech-coya-receives-license-from-german-regulator/ |archive-date=2020-10-26 |access-date=October 20, 2020|website=The Digital Insurer|url-access=registration}}</ref> enabling it to offer its own insurance policies.
* private liability
* home contents
* dog liability
* [[Bicycle theft|bike theft]]
* e-bike theft
* pet health


Coya firstly launched its [[contents insurance |home content insurance]]<ref>{{Cite press release|publisher=Coya|date=September 26, 2018|title=Berlin-Based Insurtech Firm Coya Launches with Home Content Insurance – as a Start|url=https://www.insurancejournal.com/news/international/2018/09/26/502348.htm|archive-url=|archive-date=|access-date=October 13, 2020|via=Insurance Journal}}</ref> and later offered a variety of insurance products such as private liability, home contents, dog liability, [[Bicycle theft|bike theft]], e-bike theft and pet health.
=== History ===
⚫
Coya was founded in September 2016 by Andrew Shaw, Dr. Peter Hagen and Sebastián Villarroel<ref>{{Cite press release|last=Grösch|first=Thilo|date=September 25, 2018|title=Offizieller Launch: Neuer digitaler Versicherer Coya gestartet|url=https://www.tagesspiegel.de/advertorials/ots/coya-ag-offizieller-launch-neuer-digitaler-versicherer-coya-gestartet/23109352.html|url-status=live|archive-url=|archive-date=|access-date=October 15, 2020|via=Der Tagesspiegel|trans-title=Official launch: New digital insurer Coya started}}</ref> and started to provide its first approved insurance in June 2018.


=== Funding ===
== History ==
⚫
Coya was founded in September 2016 by Andrew Shaw, Dr. Peter Hagen and Sebastián Villarroel<ref>{{Cite press release|last=Grösch|first=Thilo|date=September 25, 2018|title=Offizieller Launch: Neuer digitaler Versicherer Coya gestartet|url=https://www.tagesspiegel.de/advertorials/ots/coya-ag-offizieller-launch-neuer-digitaler-versicherer-coya-gestartet/23109352.html|archive-url=|archive-date=|access-date=October 15, 2020|via=Der Tagesspiegel|trans-title=Official launch: New digital insurer Coya started}}</ref> and started to provide its first approved insurance in June 2018.
⚫
In its Series A financing round, Coya has received nearly $30 million.<ref>{{Cite web|last=|first=|date=June 5, 2018|title=Coya raises $30 million to launch its insurance service in Europe|url=https://techcrunch.com/2018/06/05/coya-raises-30-million-to-launch-its-insurance-service-in-europe/|url-status=live|archive-url=|archive-date=|access-date=October 19, 2020|website=techcrunch.com}}</ref><ref>{{Cite web|last=Mumme|first=Thorsten|date=June 6, 2018|title=30 Millionen Dollar für Berliner InsureTech-Startup in Series A|url=https://www.gruenderszene.de/business/coya-30-millionen-finanzierung-insuretech|url-status=live|archive-url=|archive-date=|access-date=October 15, 2020|website=[[Business Insider]]|trans-title=30 million dollars for Berlin-based InsureTech start-up in Series A}}</ref> The company is strategically and financially backed by [[Investor|investors]] such as [[Valar Ventures]], [[E.ventures|e ventures,]] La Famiglia, yabeo as well as various [[Business Angel|business angels]] such as Mato Peric and Rolf Schrömgens. It also received cash injections from [[PayPal]] founder [[Peter Thiel]]<ref>{{Cite news|last1=De La Motte|first1=Laura|first2=Christian|last2=Schnell|date=December 10, 2018|title=Insurtechs spurring on insurance giants|url=https://www.handelsblatt.com/english/companies/insure-thing-insurtechs-spurring-on-insurance-giants/23583616.html?|url-status=live|archive-url=|archive-date=|access-date=October 15, 2020|website=[[Handelsblatt]]}}</ref> and was in the list of top 30 funded German startups in 2019<ref>{{Cite web|last=|first=|date=October 15, 2020|title=Top 30 best-funded German startups 2019|url=https://disfold.com/top-german-startups/|url-status=live|archive-url=|archive-date=|access-date=October 19, 2020|website=Disfold}}</ref>.


⚫
In its [[Series A round]] of financing, Coya has received nearly $30 million.<ref>{{Cite web|last=Shieber|first=Jonathan|date=June 5, 2018|title=Coya raises $30 million to launch its insurance service in Europe|url=https://techcrunch.com/2018/06/05/coya-raises-30-million-to-launch-its-insurance-service-in-europe/|url-status=live|archive-url=https://web.archive.org/web/20180606072824/https://techcrunch.com/2018/06/05/coya-raises-30-million-to-launch-its-insurance-service-in-europe/ |archive-date=2018-06-06 |access-date=October 19, 2020|website=[[Techcrunch]]}}</ref><ref>{{Cite web|last=Mumme|first=Thorsten|date=June 6, 2018|title=30 Millionen Dollar für Berliner InsureTech-Startup in Series A|url=https://www.gruenderszene.de/business/coya-30-millionen-finanzierung-insuretech|url-status=live|archive-url=https://web.archive.org/web/20180625082025/https://www.gruenderszene.de/business/coya-30-millionen-finanzierung-insuretech |archive-date=2018-06-25 |access-date=October 15, 2020|website=[[Business Insider]]|trans-title=30 million dollars for Berlin-based InsureTech start-up in Series A}}</ref> The company is strategically and financially backed by [[Investor|investors]] such as [[Valar Ventures]], [[E.ventures|e ventures]], La Famiglia, and Yabeo Capital, as well as various [[Business Angel|business angels]] such as Mato Peric and Rolf Schrömgens. It also received cash injections from [[PayPal]] founder [[Peter Thiel]]<ref>{{Cite news|last1=De La Motte|first1=Laura|first2=Christian|last2=Schnell|date=December 10, 2018|title=Insurtechs spurring on insurance giants|url=https://www.handelsblatt.com/english/companies/insure-thing-insurtechs-spurring-on-insurance-giants/23583616.html?|archive-url=|archive-date=|access-date=October 15, 2020|website=[[Handelsblatt]]}}</ref> and was in the list of top 30 funded German startups in 2019.<ref>{{Cite web|last=|first=|date=October 15, 2020|title=Top 30 best-funded German startups 2019|url=https://disfold.com/top-german-startups/|url-status=live|archive-url=https://web.archive.org/web/20191207160536/https://disfold.com/top-german-startups/ |archive-date=2019-12-07 |access-date=October 19, 2020|website=Disfold}}</ref>
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=== Business Model ===
Coya's [[business model]] is based on a digital paperless insurance that enables customers to get insured quickly and to manage their insurance claims and policies directly through an online dashboard without the need of [[Insurance broker|insurance brokers]] and agents. As of July 2020 the company is also opening its platform for digital insurance intermediaries and comparison portals.<ref>{{Cite press release|last=|first=|date=August 6, 2020|title=Coya Expands Sales Network And Opens Its Platform For Comparison Portals|url=https://marketersmedia.com/coya-expands-sales-network-and-opens-its-platform-for-comparison-portals/88971738|url-status=live|archive-url=|archive-date=|access-date=October 10, 2020|publisher=Coya|via=Marketers Media}}</ref>


In January 2022, the company was acquired by French insurance startup Luka in and the company and all policies was renamed as Luko.<ref name=tech1></ref>
=== Technology ===

Coya uses a [[sales funnel]] to acquire all necessary customer data and makes use of [[artificial intelligence]] to offer customized insurance product. Policy claims can be views and edited through their app. Policy coverages can be adjusted according to changing needs.
⚫
== Business model ==
Coya's [[business model]] was based on digital, paperless insurance that enables customers to get insured quickly and to manage their insurance claims and policies directly through an online dashboard without the need for [[Insurance broker|insurance brokers]] and agents.


== References ==
== References ==
{{Reflist}}


[[Category:2016 establishments in Germany]]

[[Category:Companies based in Berlin]]

[[Category:Financial services companies established in 2016]]
[[Category:Insurance companies of Germany]]
[[Category:Insurance companies of Germany]]
[[Category:Online insurance companies]]

Latest revision as of 02:24, 23 May 2024

Coya AG
Company typePrivate company
IndustryInsurance
Founded2016 (2016)
FounderAndrew Shaw, Dr. Peter Hagen and Sebastián Villarroel
DefunctJanuary 18, 2022 (2022-01-18)
FateAcquired
SuccessorLuko (later GetSafe)
Headquarters
Berlin
,
Germany
Area served
Germany
ProductsProperty insurance Casualty insurance
OwnerLuko (later GetSafe)
Websitecoya.com [dead link‍]

Coya was a German property and casualties insurance provider headquartered in Berlin offering liability policies for people and pets as well as home content and bicycle theft insurances. Coya delivered insurance policies and handled claims through desktop and mobile apps. The company was acquired by French insurance startup Luka in 2022 and the company and all policies was renamed as Luko which would later be renamed GetSafe.[1]

The company was licensed by the German Federal Financial Supervisory Authority (BaFin),[2] enabling it to offer its own insurance policies.

Coya firstly launched its home content insurance[3] and later offered a variety of insurance products such as private liability, home contents, dog liability, bike theft, e-bike theft and pet health.

History

[edit]

Coya was founded in September 2016 by Andrew Shaw, Dr. Peter Hagen and Sebastián Villarroel[4] and started to provide its first approved insurance in June 2018.

In its Series A round of financing, Coya has received nearly $30 million.[5][6] The company is strategically and financially backed by investors such as Valar Ventures, e ventures, La Famiglia, and Yabeo Capital, as well as various business angels such as Mato Peric and Rolf Schrömgens. It also received cash injections from PayPal founder Peter Thiel[7] and was in the list of top 30 funded German startups in 2019.[8]

In January 2022, the company was acquired by French insurance startup Luka in and the company and all policies was renamed as Luko.[1]

Business model

[edit]

Coya's business model was based on digital, paperless insurance that enables customers to get insured quickly and to manage their insurance claims and policies directly through an online dashboard without the need for insurance brokers and agents.

References

[edit]
  1. ^ a b "Insurtech startup Luko acquires Coya and gains insurance license". TechCrunch. January 19, 2022.
  2. ^ "Insurtech Coya receives license from German Regulator". The Digital Insurer. Archived from the original on 2020-10-26. Retrieved October 20, 2020.
  3. ^ "Berlin-Based Insurtech Firm Coya Launches with Home Content Insurance – as a Start" (Press release). Coya. September 26, 2018. Retrieved October 13, 2020 – via Insurance Journal.
  4. ^ Grösch, Thilo (September 25, 2018). "Offizieller Launch: Neuer digitaler Versicherer Coya gestartet" [Official launch: New digital insurer Coya started] (Press release). Retrieved October 15, 2020 – via Der Tagesspiegel.
  5. ^ Shieber, Jonathan (June 5, 2018). "Coya raises $30 million to launch its insurance service in Europe". Techcrunch. Archived from the original on 2018-06-06. Retrieved October 19, 2020.
  6. ^ Mumme, Thorsten (June 6, 2018). "30 Millionen Dollar für Berliner InsureTech-Startup in Series A" [30 million dollars for Berlin-based InsureTech start-up in Series A]. Business Insider. Archived from the original on 2018-06-25. Retrieved October 15, 2020.
  7. ^ De La Motte, Laura; Schnell, Christian (December 10, 2018). "Insurtechs spurring on insurance giants". Handelsblatt. Retrieved October 15, 2020.
  8. ^ "Top 30 best-funded German startups 2019". Disfold. October 15, 2020. Archived from the original on 2019-12-07. Retrieved October 19, 2020.
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