Local telematics insurtech Koba says it has partnered with a new underwriter after its arrangement with Eric Insurance concluded in July.  

A spokesperson tells insuranceNEWS.com.au Koba is now "in the midst of transitioning to” a new underwriter, which it declined to name. 

“We're yet to announce the exact date we'll be back in the market with our new underwriter but are hoping to finalise the date soon,” she said. 

In March, it was announced ASX-listed underwriting agency Ensurance was investing up to $1.5 million in the insurtech and Ensurance CEO Tom Kent had joined the Koba board. Ensurance will have the right to distribute Koba’s data-driven car insurance, under which premiums are calculated on a per-kilometre basis. 

Melbourne-based Koba launched in November 2021. It splits premium payments into a fixed premium to cover drivers while parked, and a per-kilometre rate, typically between 3-10 cents, while driving. 

Koba measures the distance driven and only charges drivers by their use via its Koba Rider device, connected with the Koba app to automatically calculate driving distances. Koba investors include Hunter Equity Group and Insurtech Gateway. It won the Excellence in Insurtech category at the 2022 FinTech Australia Finnie Awards. 

Advice sent to Koba policyholders this month seen by insuranceNEWS.com.au stated there would not be a renewal offer until the new underwriting arrangements are finalised.