When we were first starting up Coya, we spoke to a lot of different people about what types of insurance they owned and how and why they bought it. One common theme we found was that, especially for people who were buying insurance for the first time, they usually spoke to others and asked for advice. Some had insurance recommended to them by their parents, family or friends and other’s actively sought advice from others.
Based on this insight, we built a referral feature where our members could invite their friends to join Coya. We currently give a EUR 50 reward to any member who successfully refers and a EUR 15 discount to the new joiner, to use on their first policy purchase. To make sure this system works fairly, it currently works in this way:
- EUR 25 after the new joiner stays with Coya for 2 months
- Another EUR 25 after the new joiner stays with Coya for 12 months
- The new joiner receives their discount immediately when buying their first policy if they buy a yearly policy; if they buy a monthly policy, the discount is split up monthly over the first year.
Each member has a unique referral link, which can be found in their dashboard (see below) and we also send out the link in our email newsletters.
You can find the full legal T&Cs of how the program works here