Cycle insurance specialist Bikmo and Liechtenstein-based Uniqa have launched a partnership to drive insurance innovation in the European cycling market.
Combining Bikmo’s specialist cycling market experience, commercial partnerships and innovative insurance technology platform with Uniqa’s underwriting expertise will help accelerate Bikmo’s ambition of protecting the world’s riders, the company said.
The partnership will target consumers and companies involved in the European cycling market, driven by changing behaviours during the pandemic, significant investment into cycling infrastructure across Europe and strong growth in electric bike sales.
Insurance product development will include extending consumer cycle insurance in Europe, working with cycle brands and retailers on embedded insurance at the point of sale, growing their bike-leasing insurance offering, and commercial insurance products for companies involved in the cycle sector.
Bikmo CEO David George said: “The speed to respond and deliver our first project together was a record for Bikmo which gives us huge confidence in the numerous current projects and future opportunities.
“The combination of Bikmo’s experience and expertise in the cycling and outdoor sectors combined with Uniqa’s insurance expertise and agility within the European market makes for a winning combination.”
Uniqa Liechtenstein CEO Carsten Abraham said: “Customer centricity and sustainability are the two core values of Bikmo, which makes them a perfect match for Uniqa Liechtenstein’s own business ambitions. We are proud to support them on this (bicycle) run.”
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Bikmo launched ‘Bikmo for Business’ towards the end of last year, a new insurance advice, product broking and management service for companies across the cycling, mobility and gig-economy sectors. It aims to support cycling and mobility-centric businesses with advice and products ranging from straightforward liability and property policies, to more bespoke solutions for businesses that do not fit the traditional cookie-cutter approach that open-market insurers can apply to business insurance.
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