Koffie

Cohort: Cohort 4, 2020

Focus in insurance value chain/workflow: Point of underwriting | Claims 

 Specific lines of business supported: SME   

Founded: 2019

Status: Operating, still in insurance

Company type: MGA

Head office: North America

Main global offices: USA

Locations served: USA

Employee count: 11-100

Koffie is an MGA providing fleet insurance. Through its use of telematic sensors and camera equipment, Koffie can track and model fleet risk across 100 characteristics of the trucks, and evaluate individual and company-wide driving behaviours, offering insurance accordingly. Koffie also offers a credit card for SME truck drivers which gives users cashback. 

Primary focus product area whilst in the Accelerator: Automotive I SMEs I Supply chain/NDBI

Koffie performed a back test portfolio analysis on mentors' fleet premium data. Through this Koffie demonstrated that through using their unique and granular pricing system the mentor companies would have been able to avoid considerable losses and improve loss ratios as much as 16% due to better risk selection.