InsurTech startup Coya has launched home content insurance cover, designed to be “affordable, transparent and easily accessible.” But Berlin-based Coya said home insurance is just the start and that many other forms of insurance are planned.

Coya’s flexible contracts can be cancelled at any time, have clear and understandable terms and conditions, and provide one of the best deals on the market, starting at 1.79 euro ($2.10) per month, the company said in a statement.

Users can become insured with only a few simple clicks on their smartphone or personal computer, Coya said. All clients need to do is type in basic information like name, postal code and size of their home to directly receive their digital offer. is also available in English, so foreigners living in Germany can also get insurance. Being paperless, Coya puts “an end to the chaos and sea of paper contracts.”

Home contents damage can be reported via smartphone, said the company, noting that it is focusing on people who are comfortable with digital technologies and prefer this type of interaction to visits from an insurance consultant.

Between long cancellation notices, complicated terms & conditions and cryptic paper contracts, insurance is not only an opaque but annoying matter for many people, the company affirmed

Micro Policies Planned

With new forms of technology like artificial intelligence, Coya plans to offer customized products adapted to clients’ individual needs. Coya also will soon offer so-called micro policies that allow clients to insure individual objects for only a few days or even hours. For certain products, Coya is also looking into partnerships with brands.

“You can reach only new heights if you set ambitious goals,” says Coya founder Andrew Shaw. He was inspired to create an entirely digital and always accessible insurance after a trip when he fell ill on a distant tropical island. “Our vision and the idea to create a new type of insurance that is adapted to a digital world began about two years ago.”

Today, the company consists of a team of 60 people and is a licensed insurance company in Germany.

“Digitalization has allowed us to be in direct contact with many clients at once,” said Thomas Münkel, chairman of the board at Coya.

“We want to make the insurance process so simple that clients will not require assistance from a consultant to understand and use their plan,” he continued. “Naturally, we expect to be there for clients and help them not only in the case of an emergency and acute damage but also supporting them in their day-to-day life.”

With an investment of about $40 million after the Series-A investment round, Coya is supported (among others) by Valar Ventures,, La Famiglia, yabeo, and various different business angels such as Mato Peric and Rolf Schrömgens.

Source: Coya

*This story appeared previously in our sister publication Insurance Journal.