Koala, which isn’t backed by a large insurance broker or carrier, has so far gathered a capital pool of about $450,000 for its Koala Flex product, which allows travelers to cancel their trip at the click of a button and get their money back. Doing so requires the capacity to provide a lot of refunds if necessary, explained Koala Insurance CEO Ugo Weyl, adding that risk-averse insurance and reinsurance firms tend to shy away from this type of innovation.
Related posts
-
DeFi Tokens Plunge 10%-20%, Led by Pendle Amid Weak Crypto Price Action This Week
The DeFi sector’s struggle coincided with a period of lull in the crypto market, with bitcoin... -
Insurance Is the Silent DeFi Guardian
There is a long history of insurers helping to reduce industrial risks, from cars to buildings.... -
Defi Education Fund on Chevron Doctrine Overruled: ‘It Opens a New Chapter in the Battle for Clear Regulations’
The Defi Education Fund, an organization focused on defending...