French insurtech firm Indeez has launched a new insurance package to protect bike, e-bike and e-cargo bike companies for both commercial and personal use.
The company estimates that 1.2 million delivery riders will use e-bikes or e-cargo bikes in the EU by 2025. This is double the amount in 2021.
Indeez expects e-bike and e-cargo bike usage to grow by 24% and 37%, respectively, through to 2027.
“Insurance protection that accompanies this evolving customer behaviour at a fair price is a critical enabler to make green mobility sustainable and more accessible for scale adoption,” Indeez Founder and CEO Vikas Chhariya told Zag Daily.
“It addresses a key market gap to cover both personal and professional use of bikes for theft, damage and vandalism, and also provides saving benefits for fleets and individual users.”
Keep Me Ridin’ consists of two products that fit the needs of both commercial and retail companies.
The B2B Keep Me Ridin’ aims to cover companies that own or lease their fleets, such as holiday tours or gig economy platforms.
Focusing on retailers, the B2B2C Keep Me Ridin’ covers firms that want to recommend insurance to their customers, including manufacturers and resellers.
The scheme avoids duplicate insurance by allowing fleet owners to pay only for the bikes being used, while the parked ones are covered by their professional insurance.
Insured clients are also able to manage their contracts and claims directly on a dedicated online platform. They can add and remove bikes as preferred, as the policy schedule and invoice adapt automatically.
Keep Me Ridin’ was built in partnership with licensed underwriter Seyna Insurance.
“We share a common vision: we believe that insurance is that protective force freeing people from fear and helping them achieve their dreams and projects,” Seyna’s CEO Stephen Leguillon told Zag.
“We are looking forward to developing many more programmes with Indeez to keep supporting the development of both green mobility and the gig economy.”
Indeez’s services are currently only available in France, but the company aims to expand into new markets this year.