Tag Archive: bicycle insurance

  1. Bicycle insurer Laka welcomes new investor: Achmea Innovation Fund

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    Achmea Innovation Fund has made an investment in the European micromobility insurer and LEVA-EU member Laka. This startup provides a range of insurance and circular economy services to e-bike riders, cyclists, and businesses. This investment is in line with Achmea’s ambitions in the field of smart and sustainable mobility and its interest in innovative mobility solutions.

    Laka is a mobility insurtech, founded in London in 2017 and now active in multiple European countries, including the Netherlands, and insures more than €140 million worth of bicycles and e-bikes. Laka’s main offering is collective-driven insurance for bikes, e-bikes and e-cargo bikes.

    The collective is a group of cyclists, connected by a common interest; their bicycles. Each month’s claims are shared amongst Laka’s collective of cyclists, so the monthly bill varies up to a guaranteed cap. Now cyclists only pay for what’s needed. The fewer claims there are, the lower the monthly premium.

    As well as offering insurance directly to consumers, Laka is working with retailers and brands to embed insurance at point of sale. The most recent partnerships are with the Dutch bicycle manufacturer Gazelle and cargo bike brand Urban Arrow from Pon. Other partners include sports retailer Decathlon and e-bike brand Riese & Müller. This allows Laka to reach cyclists in the most efficient way.

    Exploiting the opportunities of embedded insurance

    Katharina Maas, Fund Manager Achmea Innovation Fund: “In a world where the demand for green and healthy transport options continues to rise but electric bicycles are also becoming increasingly expensive, Laka is at the forefront with innovative solutions. Their innovative ’embedded’ insurance model ensures that bicycles are insured directly from the manufacturer. But Laka does more; They also offer services to recover stolen bikes, and they help cyclists get back on the road quickly after theft or damage. Achmea invests in Laka because of the attractive possibilities of embedded insurance and the synergy with our business activities. Moreover, Laka’s model is directly in line with our cooperative values and our mission to optimally insure customers and provide them with the right services.”

    Tobias Taupitz, CEO and co-founder Laka: “We’re excited to welcome leading Dutch insurer Achmea to join Laka’s ride. Their investment is testament to the strength of our embedded proposition and will support Laka’s growth across Europe in Green mobility. We look forward to working with the Achmea Innovation Fund team and the broader organisation to create outstanding customer value. In addition, we welcome Henrieke Hoftijzer to join our board.”

    Next growth phase

    Achmea Innovation Fund’s investment follows the extension of the latest investment round led by impact investor Shift4Good alongside existing investors Autotech Ventures, Porsche Ventures, Ponooc, ABN AMRO Ventures, Creandum, 1818 Ventures and Elkstone Partners. This will allow Laka to enter the next phase of growth, which is aimed at further expansion in Europe.

    For more information:

    Marco Simmers
    Press officer Achmea
    +31 6 53 43 87 18

    About Achmea Innovation Fund

    Since 2019 Achmea Innovation Fund invests in start-ups and scale-ups that match the mission and strategic domains in which Achmea operates. The fund exclusively takes minority stakes in these companies, with the aim of further growth and realising strategic value for Achmea. The Achmea Innovation Fund contributes to solving social issues, for example in the field of mobility.

    Founded in 2017, Laka set out to transform insurance by connecting passionate cyclists to form a collective and protect their bikes for when things go wrong. Now serving cyclists across Europe, Laka is the leading bike insurance provider that insures businesses and individuals looking to make their journeys pedal-powered. Laka challenges the traditional insurance model by providing tailored cover to suit your needs – this includes a tech-driven claims experience that has won Best Cycle Insurance Provider’ at the Insurance Choice Awards for six years running.

  2. Laka and Riese & Müller partner up to offer insurance to RX Connect customers

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    • Insurance disruptor Laka partners with German bicycle manufacturer Riese & Müller.
    • Laka will now offer three insurance packages included in the Riese & Müller ConnectCare service to all RX Connect customers in Belgium, the Netherlands, and France.
    • The partnership enables customers to insure their bikes easily through the Riese & Müller My Bike platform and the RX Connect app.

    Laka (www.laka.co), the award-winning European Insurtech that offers a unique insurance model to cyclists and businesses, has started a new partnership with the German premium E-bike manufacturer, Riese & Müller, to provide cover for all existing and new RX Connect customers with ConnectCare subscription in France, Belgium, and the Netherlands.

    With this new partnership, Riese & Müller customers who buy an E-bike with an RX Chip and subscribe to ConnectCare now benefit from exclusive Laka bike insurance cover under the ConnectCare service. The new ConnectCare service comes in three options, Basic, Smart, and Comfort, and was launched this month. This shows the commitment from Laka and Riese & Müller to stamp out thieves and keep everyone riding protected.

    Known for developing fully suspended E-Bikes and cargo bikes, and the innovative RX technology, the partnership with Riese & Müller builds on Laka’s existing network of micro-mobility brands across Europe such as Gazelle, Brompton, and Decathlon.

    On the Riese & Müller partnership, Tobias Taupitz, Laka CEO said, “We are excited to welcome Riese & Müller to the Laka family and their RX Connect E-bike customers to the Laka Collective. We’re determined to provide them with a best-in-class experience and service. Together with Riese & Müller, we can help their customers fully enjoy their e-bike, knowing that Laka will swiftly get them back on the saddle if needed.”

    Joachim Teske, Product Manager Digital Services at Riese & Müller, said:
    “We are looking forward to expanding our ConnectCare Service to further European markets, connecting more customers to their bikes and giving them a greater sense of security and peace of mind. We’re sure that our E-Bike riders will benefit from Laka’s service and together with both our connectivity and recovery service we have created a holistic product.”

    To find out more visit: https://www.r-m.de/rx-services and https://group.laka.co/r-m

  3. Cervélo & Santa Cruz choose Laka as their preferred insurance partner

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    LEVA-EU Member Laka, the award-winning bicycle insurance provider, is thrilled to announce a partnership with prestigious cycle brands Cervélo and Santa Cruz. Laka will be the official insurance partner, providing Cervélo and Santa Cruz customers with a fair and painless insurance experience.

    “We’re thrilled to partner with Cervélo and Santa Cruz to offer their customers a unique and innovative insurance product.” said Joost Klarenbeek, Partnership Manager at Laka, “Laka’s insurance champions fairness, transparency, and positivity, which beautifully aligns with the exceptional service and quality of these iconic bike brands. This partnership reflects the indispensable role insurance plays in the full service retail experience. We’re really excited to be providing enhanced protection for Cervélo and Santa Cruz customers’ high-end bikes.”

    Laka’s insurance model offers a fair and transparent price combined with customised cover to meet the needs of road cyclists and mountain bikers. Additionally, Laka’s insurance model is built on a collective model where customers are only billed for the real cost of claims made within the collective. This unique model promotes a safe and responsible biking culture, while substantially reducing insurance costs.

    Michael Sommer, Sales Director EMEA at Cervélo & Santa Cruz, adds, “It’s a great relief to finally have an insurer that truly understands the specific needs and value of high-end road bikes like ours. Our partnership with Laka will ensure our customers are fully protected, enhancing their peace of mind.”

    The partnership between Laka, Cervélo, and Santa Cruz signifies the importance of top-tier insurance products in amplifying customer satisfaction and loyalty in the bicycle industry.

    About Laka

    Laka, winner of the ‘Best Cycle Insurance Provider’ Award four years in a row, was founded to better serve individual cyclists and businesses with a fairer, collective-driven approach to insurance. With a tech-driven and customer-centric approach, Laka has built on being an award-winning cycle insurer, to now being uniquely positioned as the go-to micromobility insurance provider in the UK and Europe. www.laka.co

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