ACS has three innovation labs in Australia – Harbour City Labs in Sydney, River City Labs in Brisbane, and Bay City Labs in Melbourne.

‘A Look in the Labs’ is an Information Age series profiling the high-growth startups based in our labs – what they do, their ambitions, and the advantages they’ve gained being based at the ACS Innovation Labs.

This week, we speak with Andrew Wong, CEO of Koba Insurance.

Business Koba Insurance

Established 2020

CEO Andrew Wong

Based at Bay City Labs, Melbourne

Online at Website, LinkedIn

What does your business/product do and how does it help people/other businesses?

Koba Insurance offers a data driven approach to car insurance.

It’s the same type of comprehensive coverage you’re used to, just paid differently.

We only charge you for what you use, literally by the kilometre.

How did the idea for your business come about?

Connected cars are coming. Most car manufacturers have already started to release cars that are pre-connected to the internet.

And insurance brands all over the world are jumping onto the trend, just not here in Austalia yet.

Was being an entrepreneur always one of your life’s goals and what have you learned about being an entrepreneur?


I loved going to the airport as a kid. I’d run into the terminal and collect up the old baggage trolleys then walk them out to the street and sell them to the people unloading their cars. It made me a dollar and saved them a dollar.

What has been the biggest challenge and the biggest milestone for your business so far?

It takes a lot to get full compliance and regulatory approval to become an insurance company.

We have great partners and everyone has been amazingly positive and encouraging on our journey to launch.

Where would you like your business to be in two years?

I hope that in 2 years’ time we will be hitting our full potential and flying up the growth J curve.

We want to have TV ads, big brand ads, and multiple product lines.

What is the best business or life advice you’ve ever been given?

I have two: “Done is better than perfect”, which I learned from my old boss, and “Your most unhappy customers are your greatest source of learning” from Bill Gates.

What made you decide to move into the ACS Innovation Labs and how has it assisted your business?

ACS has an amazing community of early adopters and digitally native members.

It's great to be around eager, hungry, passionate people.

For more information on the ACS Innovation Labs, visit the websites of Harbour City Labs in Sydney, River City Labs in Brisbane, and Bay City Labs in Melbourne. If you're interested in joining successful Australian businesses in the ACS Innovation Labs, email