Coya AG: Difference between revisions
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=== Funding === |
=== Funding === |
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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=|first=|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=}}</ref> |
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 web|last=|first=|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 Today}}</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>. |
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=== Business Model === |
=== Business Model === |
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Revision as of 11:35, 18 May 2021
 | This article may have been created or edited in return for undisclosed payments, a violation of Wikipedia's terms of use. It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. (May 2021) |
Coya AG is 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 delivers insurance policies and handles claims through desktop and mobile apps.
The company is licensed under the issue by the German Federal Financial Supervisory Authority (BaFin),[1] enabling it to offer its own insurance policies. Coya firstly launched its home content insurance[2] and now offers a variety of insurance products such as:
- private liability
- home contents
- dog liability
- bike theft
- e-bike theft
- pet health
History
Coya was founded in September 2016 by Andrew Shaw, Dr. Peter Hagen and Sebastián Villarroel[3] and started to provide its first approved insurance in June 2018.
Funding
In its Series A financing round, Coya has received nearly $30 million.[4][5] The company is strategically and financially backed by investors such as Valar Ventures, e ventures, La Famiglia, yabeo as well as various business angels such as Mato Peric and Rolf Schrömgens. It also received cash injections from PayPal founder Peter Thiel[6] and was in the list of top 30 funded German startups in 2019[7].
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 brokers and agents. As of July 2020 the company is also opening its platform for digital insurance intermediaries and comparison portals[8].
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.
References
- ^ "Insurtech Coya receives license from German Regulator". The Digital Insurer. Retrieved October 20, 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ "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.
{{cite press release}}: CS1 maint: url-status (link) - ^ 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.
{{cite press release}}: CS1 maint: url-status (link) - ^ "Coya raises $30 million to launch its insurance service in Europe". techcrunch.com. June 5, 2018. Retrieved October 19, 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ 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. Retrieved October 15, 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ "Insurtechs spurring on insurance giants". Handelsblatt Today. December 10, 2018. Retrieved October 15, 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ "Top 30 best-funded German startups 2019". Disfold. October 15, 2020. Retrieved October 19, 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ "Coya Expands Sales Network And Opens Its Platform For Comparison Portals". Marketers Media. August 6, 2020. Retrieved October 10, 2020.
{{cite web}}: CS1 maint: url-status (link)