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Laka, a new cargobike insurance

Posted on January 9, 2018 at 1:01 pm

Laka, a new cargobike insurance designed with the cargobike community in mind

As announced in our Autumn Newsletter, we have worked closely with Laka, the new and innovative insurance company. The result? A product specially designed for cargobikes by the cargobike community.

Recommendations for insurance companies is a recurring query from our customers. So when we’ve heard of Laka (formerly Insure A Thing), we were very excited to finally find a company that shares our philosophy and wasn’t afraid to challenge the current broken model. Until now, the process of insuring a cargobike was all but simple and rather tedious. Not anymore.

Laka have listened and taken on board the concerns fed back by cargobike owners, in order to create a product that is tallied to their needs. Their innovative approach is based on the way risks are shared:

 “No upfront premiums are paid by consumers, instead at the
end of each month, claims costs are shared in a group of like-minded risks plus a
fee. The payment will change each month but will be capped at the price of a
traditional insurance policy. Therefore, if claims performance is better than
expected in one month, everyone will benefit in that improvement.

The claim process is also simplified using smart telephone technology. This ensures an instant reply and settlement, with no excess or depreciation. So you are not kept off the saddle for too long.  This is particularly important for cargobike owners due to the key role such cycles have on the day to day logistics.

Laka tests its model as part of the FCA’s innovative Regulatory Sandbox and is underwritten in the UK by Zurich.


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