Today, we have accomplished yet another milestone in your young company’s life: we have graduated from the FCA Sandbox. The FCA Sandbox allowed us to test our innovative business model in the UK market.
During the testing period, we were supported by our partner, Zurich, and are thrilled to announce that we have formed a long-term partnership with them in the UK.
To further cement the relationship, we are pleased to have Arslan Hannani, Head of Market Management joining our advisory board.
The sandbox was for us a place to test out our novel business model in a flexible environment but with live participants.
We are proud that for our customers the Sandbox test resulted in full cover for free in January to March as no claims were filed. In April, customers have been charged the first time a small premium which is still well below market rate. During this time, the average customer with a £2,187 bicycle, saved around £47 in premium compared to the market price. That buys a cyclist another set of training tyres or a service to get the bike ready for the new season!
We are excited to offer our UK customers a true alternative to existing bicycle insurance and to prove that we are best alternative for real cyclists.
Find the full press release here: PRESS RELEASE.