Koala, which is not backed by a major broker or insurance company, has so far raised approximately €450,000 in capital for its Koala Flex product, which allows travelers to cancel their trip with the click of a button and get their money back. money. This requires the ability to provide numerous refunds if needed, Koala Insurance CEO Ugo Weyl explained, adding that risk-averse insurance and reinsurance companies tend to shy away from this type of innovation.