BikeBiz Bicycle and cycling retail news
Fetch is pitched as the first consumer bicycle insurance product created specifically for the independent cycle retailer, offering free Cycle Away 7 day insurance on all new bicycle purchases via IBDs.
Retaining customers through the cycle insurance claims process has been a touchy subject in the trade – many insurers work with a select group of cycle replacement firms, so replacement bikes are often provided by a limited number of businesses, rather than whichever independent bike shop the bike was originally bought from.
The Association of Cycle Traders (ACT) said its members have been seeking an alternative. With most insurance providers and processes remaining unchanged, the ACT has teamed up with cycle insurance specialists Butterworth Spengler to create Fetch Cycle Insurance.
With Fetch every customer has the choice of which bike shop they want to carry out their repair or replacement, without the need for a discounted service, protecting retailer margins. Another benefit for retailers is that when a customer is referred to Fetch and a policy is taken out, income is generated on account. Web banners personalised to individual shops are available to download and specially designed flyers can be made available in store. All digital promotional materials can be accessed via a business’s free My ActSmart account.
Hundreds of retailers are already participating in the Fetch scheme via business listings on The Cycling Experts displaying a Fetch icon individually coded to each shop. Every click through that leads to a policy earns the business income against future ACT membership. Income generated by business can be monitored at any time by logging into My ActSmart.
More info via actsmart.biz/fetch or on 0845 618 7256.
