Cycle-specific insurer Bikmo has expanded its UK base with a new customer acquisition.
Bikmo, based in Chesire, has acquired the renewal rights to individual customers of CycleSure, another UK-based insurer.
Liverpool-based CycleSure by Butterworth Spengler has a 25-year history and was one of the first specialist cycle insurance providers. Bikmo has acquired the renewal rights for CycleSure customers, in a move it says is a first step in expanding its UK footprint.
Bikmo’s CEO David George said: “I’m excited to build on the commitment and service CycleSure has provided to their customers over the years. We’ve put in the steps to make the renewal process from CycleSure to Bikmo seamless, and the whole team is delighted to welcome their customers.
“This is just the first of our acquisitions as we look to expand our protection to more riders in the United Kingdom and Europe.”
Bikmo said it aims to make the renewal rights a smooth transition for existing customers. CycleSure customers can enjoy similar coverage from Bikmo upon renewal, from theft, accidental damage and 365 worldwide cover to clothing, helmet, event cover, and market-leading multi-bike and e-bike discounts.
Bikmo was founded in 2011 as a specialist cycle and e-mobility insurer. It now protects more than 75,000 customers in the UK and Europe, and has partnered with the likes of British Cycling, Cyclescheme, and Brompton.
In 2021, company launched ‘Bikmo for Business’, an insurance advice, product broking and management service for companies across the cycling, mobility and gig-economy sectors.
Bikmo for Business aims to support a wide range of 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.
The company is also a BCorp and a 1% For the Planet member, and aims to advocate for the cycle centre and support cycling and non-profit initiatives.