This article was written by James Martin, editor for insurance at Finder.

Utilising tech to address a number of customer pain points with its car insurance, KOBA has been recognised as a winner in the 2022 Finder Innovation Awards.

KOBA took the award for Best Insurtech Innovation. It stood out in this category, which seeks to find the leading tech innovation in Australia’s insurance industry over the past 12 months.

What are the Innovation Awards?

The Finder Innovation Awards celebrate Australian companies that have developed innovative products, services or solutions to customers’ problems.

For its 2022 Innovation Awards, Finder’s internal and expert judges analysed more than 100 entries across 21 categories. 

The awards were broadcast live from Finder’s Sydney office on Friday 21 October 2022.

KOBA recognised for its innovative practices

The approach KOBA is taking towards true pay-per-km pricing is expected to be the norm in the next 5–10 years.

Just like in life insurance and other risk-rated insurance industries, less-risky behaviour should result in lower premiums. 

KOBA’s model offers a clear and real-time way for customers to make savings if they better manage and restrict their driving.

Its innovative approach to tech also means consumers no longer have to estimate annual mileage, which has been tricky for many since the pandemic.

Our judges were also impressed by how KOBA has managed to win over consumers to its usage-based insurance. 

KOBA has enjoyed a month-on-month growth rate exceeding 50% and has provided insurance spanning over 1,000,000KM in Australia to date.

That’s despite usage-based insurance still being in its infancy in Australia.

With connected cars being the future of car ownership – KOBA has shown itself to be ahead of the field in many areas.

Congratulations to KOBA for this excellent achievement!

James Martin is the insurance editor at Finder. He has written on a range of insurance and finance topics for over 7 years. James often shares his insurance expertise as a media spokesperson and has appeared on Prime7 News, Insurance News and 7NEWS. He holds a Tier 1 General Insurance (General Advice) certification.