Koba Nearly Ready to Race

Australian start-up, KOBA, has signed a SaaS (Software as a Service) partnership agreement with By Bits. The deal will enable KOBA to launch the first connected pay-by-kilometre car insurance in Australia. Bringing a true usage-based insurance to Australia’s millions of low mileage drivers.

By Bits is a SaaS technology provider developed from By Miles, the first start-up to bring pay-by-mile insurance to the UK back in 2018. The By Bits SaaS includes a rating engine to calculate insurance premiums using modifiable underwriting and rating rules and splits the premium into a fixed amount and a per kilometre amount. It also includes an integrated policy management system that manages every aspect of the lifecycle of a car insurance policy from quotation to policy and renewal.

Source: Insurtech Gateway Australia