Koba Insurance is in sale talks after entering voluntary administration.

Administrator BRI Ferrier was appointed last month and an Australian Securities and Investments Commission notice of special resolution to wind up a company, dated September 19, said Koba had entered liquidation. 

Founder Andrew Wong tells insuranceNEWS.com.au the shutdown of Uber Carshare, marketed as “Airbnb for cars”, on September 12 pushed the insurtech into administration. Koba had worked with the Uber platform to insure people who rented out their cars and wanted coverage outside of bookings. 

It is understood Mr Wong and his team will stay on under new owners if sale talks, now in their final stages, produce a deal.

Melbourne-based Koba, which was underwritten by Pacific International Insurance and counts underwriting agency Ensurance as an investor, launched in 2021.

It was crowned best insurtech innovation by comparison website Finder in 2022.

Koba links a car’s driving data to a smartphone, to automatically calculate distances, and charges a per-kilometre rate.

Users paid an upfront fixed cost to have their cars covered while parked, then paid for the distances they drove.

Koba also launched an electric vehicle insurance policy earlier this year with features such as a certified repairer network, charging equipment cover, lifetime repair guarantee and electric hire cars.