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.
Source: https://www.coindesk.com/business/2022/05/12/teller-finance-wants-to-diversify-defi-with-travel-insurance/?utm_medium=referral&utm_source=rss&utm_campaign=headlines