Tag Archive: laka

  1. Laka’s insurance extends to Germany with the support of Porsche

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    Source: SazBike, M. Huber

    LEVA-EU member Laka, a bicycle insurer based in London, has now launched its service in Germany thanks to support from Porsche Ventures. In its initial stage, the brand will offer digital insurance products in these regions.

    Laka insurance is now available for all bicycles in Germany, including a partnership with Cyklaer e-bikes. Service providers in Germany under Laka insurance include Decathalon, Raleigh, Le Col, and Dockr. As announced in June, this development is facilitated by support from Porsche Ventures.

    Maxim Huber writes, “The insurance provider promises to only bill customers for the actual costs of claims submitted in the previous month. Insured persons should benefit from lower prices with fewer claims, while members are protected from higher collective claims by a monthly price cap. Costs are reduced through a daily updated pricing and risk model, with policyholders being transparent about where their money is going each month, the company says.”

    We are thrilled to bring our modern, refreshing, and collective insurance model to Germany, where micro-mobility is already a part of everyday life and continues to grow,” says Kelly Barnes, CMO of Laka.

  2. Insurance disrupter Laka secures further funding from Porsche Ventures, as part of a Series A extension, enabling German expansion.

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    LEVA-EU member Laka (www.laka.co), winner of the ‘Best Cycle Insurance Provider’ Award four years in a row, has secured additional funding from Porsche Ventures, the venture capital unit of Porsche AG. This brings its Series A, led by Autotech Ventures and followed by Ponooc, Dutch sustainable mobility investor with close ties to the world’s largest bike seller Pon, and ABN AMRO, to $13.5m. Laka will use the new capital and network opportunities to facilitate its European expansion.

    With no major European player for cycling and e-mobility insurance, Laka is uniquely placed and first-to-market with an insurance model that has customer interest built-in to the core. Laka will expand its product offering to e-scooters, e-mopeds, and, eventually, e-cars to better serve Europe-wide partnerships including manufacturers, retailers, and leasing businesses.

    About the investment, Patrick Huke, Head of Porsche Ventures, Europe & Israel said

    “The increasing digitization and variety of sustainable mobility offers leads to the need for an innovative and customer-centric offer in the field of digital insurance. With the investment in Laka, we are pleased to support a strong team that is addressing the global insurance market with a unique, highly adaptable, and digital business model, which focuses above all on the customer experience.”

    Laka will be exploring opportunities with the Porsche Ventures portfolio to build the backbone to support the e-mobility segment. Initially partnering with German cycling brand Cyklaer (www.cyklaer.de) to offer new and existing customers built in digital insurance products. Cyklaer will be joining Laka’s partners, which include the world’s largest sports retailer, Decathlon, iconic cycling brands Raleigh and Le Col, as well as Santander Consumer Finance and Monzo. The partnerships enable the brands to provide end-to-end digital experiences by immediately protecting their customers from theft and damage at the point of sale.

    Tobias Taupitz, CEO and co-founder of Laka says “2021 truly depicted an inflection point for Laka as we moved from a pure direct-to-consumer play towards retail and commercial partnerships.    

    e-mobility is redefining transport globally, and Laka has set out to build the backbone to support the e-mobility segment at a time when “Net Zero Emissions” has rightly become front of mind for consumers, businesses, and government policy. To support this shift towards a greener future, we have a bold vision to become the world’s largest e-mobility insurance partner.”

    Already insuring many of the UK’s leading last-mile delivery companies, such as Zapp and Urbit, Laka is also expanding to cover commercial fleets Europe-wide, where companies who are shifting their fleet to greener transport and e-mobility are underserved by traditional insurers.

    Porsche Ventures joined the existing investor list including Autotech Ventures, Ponooc, ABN AMRO Ventures, Creandum, LocalGlobe, 1818 Ventures, and Elkstone Partners. Notably, confidence in Laka was shown by global cycling industry leaders, with angel investment coming from Zwift CEO and co-founder, Eric Min, in January 2022.

  3. Laka and Dockr rebel against outdated industries

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    The European cycle insurer that has disrupted the consumer and commercial insurance market

    LEVA-EU member Laka, the European cycle insurer that has disrupted the consumer and commercial insurance market, is now working with cargo bike subscription giant DOCKR to bring their fresh, entrepreneurial model to the e-mobility market. As part of their DOCKR subscription, thousands of DOCKR clients in Belgium, Germany, and the Netherlands now benefit from Laka’s award-winning insurance and fleet management system.

    Laka’s appeal to clients is its ability to quickly adapt its unique, tech-based insurance model to provide tailored, cost-effective insurance cover for clients’ specific requirements across Europe. Laka and DOCKR both bring a modern and flexible model to their retrospective industries. Notably, outdated insurance companies are known for locking clients in for long periods with expensive get-out clauses and charging for policy changes. This is where Laka and DOCKR are changing things to better serve the business market. With DOCKR, clients pay via an all-inclusive flexible subscription model, whilst Laka offers flexible insurance contracts that allow daily policy changes; which are more suited to the changing needs of growing delivery fleet companies.

    Both companies also maximize revenue opportunities for their clients. Laka has its own in-house customer services team, who provides award-winning fast service to get riders back on their bikes (41 minutes is the quickest settlement), and DOCKR’s secret lies within its subscription, which includes regular service at the customer’s location and backup vehicles when necessary, thereby maximizing uptime for its users.

    DOCKR is the most recent addition to Laka’s commercial client list, which features Decathlon, Randstad, EAV, Zapp, and Santis Global to name a few, proving that Laka is now uniquely positioned to provide a comprehensive, cost-effective, and versatile commercial insurance model (covering e-cargo bikes, delivery riders, and cycles), across Europe and the UK.

    Tobias Taupitz, Laka CEO said “We listened to clients’ pain points with traditional insurance to develop a product that challenges the outdated insurance model. Laka provides tech-driven flexible policies to better suit their needs; whether they are a global company or a fast-growing (and fast-changing) start-up. DOCKR is one of those fast-growing companies. We are delighted to work with the DOCKR team, who are aligned with Laka’s disruptive approach of rebelling against outdated models to do things differently, to do them better.”

    Nadine van der Hoorn, Managing Director at DOCKR said ”At DOCKR we look for innovation and customer-focus in all partners we work with. These are key drivers for us and our partners to grow with the disruptive DOCKR Model. When starting conversations with LAKA we’ve found a partner who will work with us (instead of against us) to offer our customers the best possible cargo solution in inner cities. This requires courage from both of us to embrace the unknown.”

    Van der Hoorn goes on to explain that, every day the inner cities become more congested with traffic, and CO2 emissions continue to rise. That’s why DOCKR is on a mission to make the inner cities a better place. DOCKR delivers flexible all-in subscriptions for electric cargo vehicles because they believe mobility should be easy, accessible, and sustainable. DOCKR helps its customers with their logistical challenges so they can focus on their core business. Whether your company is big or small, there is an ideal DOCKR for everyone. No big investments upfront and no long-term commitments. With DOCKR’s service and preventive maintenance, they ensure that your vehicle is always on the road to guarantee you maximum uptime.

    DOCKR is growing rapidly and they want to conquer the European market with their all-inclusive subscription. To make this rapid growth possible, they are looking for new investors so that they can make the city center a better place, not only in the Netherlands, Belgium & Germany but in all of Europe!

    For further information about Laka visit the Laka website at www.laka.co
    For further information about DOCKR visit the DOCKR website at www.dockrmobility.com

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