EP 09 - Ugo Weyl - CEO at Koala - I Was Dating a Girl From Brazil
Ugo Weyl joined The Wolfcast to share the story of his unique entrepreneurial journey and the founding, building, and funding of Koala Insurance. I really enjoyed talking with Ugo. He was very transparent, straightforward, and generous.
Some of the topics that Ugo discussed included:
- His first business (Oui Reward) was to resolve flight delays and/or cancellations based on a European regulation that required airlines to pay cash compensation
- He went through the entire claims process because his girlfriend at the time (see the title of this episode) had her flight delayed by a day and was owed compensation
- He and one of his university friends decided they could build tech to solve this problem
- Oui Reward shut down 1 year after being founded to start his current company, Koala
- Koala only builds products that can be fully automated
- Koala’s first underwriting partners were Wakam and Seyna
- Was sure Koala’s first product could be built in two weeks, but it took 6 months
- This product for flight cancellation protection was meant to be launched just as COVID was hitting…decided not to launch
- Started fund-raising in the midst of the pandemic
- The impact of participating in TechStars Paris at the end of 2019
- The great team and support from InsurTech Gateway
Other titles we considered for this episode:
- I Just Knew I Did Not Want to Do That
- It Is 100% Parametric
- Why Are You Calling Me To Pitch Travel Insurance?