Coya AG
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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 and pet health.
History[edit]
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[edit]
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, 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[6] and was in the list of top 30 funded German startups in 2019.[7]
Business model[edit]
Coya's business model is 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. As of July 2020 the company is also opening its platform for digital insurance intermediaries and comparison portals.[8]
References[edit]
- ^ "Insurtech Coya receives license from German Regulator". The Digital Insurer. Archived from the original on 2020-10-26. Retrieved October 20, 2020.
- ^ "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.
- ^ 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.
- ^ 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.
- ^ 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.
- ^ De La Motte, Laura; Schnell, Christian (December 10, 2018). "Insurtechs spurring on insurance giants". Handelsblatt. Retrieved October 15, 2020.
- ^ "Top 30 best-funded German startups 2019". Disfold. October 15, 2020. Archived from the original on 2019-12-07. Retrieved October 19, 2020.
- ^ "Coya Expands Sales Network And Opens Its Platform For Comparison Portals" (Press release). Coya. August 6, 2020. Retrieved October 10, 2020 – via Marketers Media.