Stealth mode is for deeply funded start-ups. Since we are bootstrapping, why not tell you what’s happening at Insure A Thing along the way? The good, the bad and the ugly.

In return, I would like to ask for your help. Your help to resolve the conflict of interest that exists in today’s insurance products and to design coverage that is honest, simple and affordable.

Leave your comments, send me a private message or e-mail us at

OK? Off we go then.

With much anticipation week 2 at Startupbootcamp InsurTech has started – and ended. Where has the week gone? The clock is ticking mercilessly and more than 10% of our accelerator experience has passed before we’ve even had the chance to unpack.

The starting point for each of the start-ups in the InsurTech cohort varies greatly, and with that their priorities. In our case, we have to build a new product from scratch, including all supporting operations.

In parallel, we must source our first beta testers. All within the next 6 months or so, when we aim to test our unique offering live in the UK market.

Initially, we will offer theft, damage and loss coverage for high value bicycles – for a fraction of todays’ costs.


We will group cyclists with similarly precious bicycles. We will not ask for any premiums upfront, aside from a small membership fee. From here, on a monthly rolling basis, we will borrow money from leading financial institutions to settle your claims – fast and transparent.

At the end of the month, we will add up all claims successfully settled, add a fixed fee on top and split the bill equally across the people in the group (adjusted for the relative value of your bike) up to a clearly communicated cap. You will always know what the maximum payment will be.

Now, there are a few things worth explaining further:

  • We link our revenues to successfully paid out claims, i.e. we’re incentivised to pay out rather than to hold funds back.

  • We don’t have to predict future claims losses anymore and overcharge our customers. You only pay what you consume as group.

  • This has a fascinating effect: the better you look after your bike, the less you pay. Your cautious behaviour will have an immediate positive impact on your monthly bill.

Question: would you be ok to pay at the end of the month (like your credit card bills) in exchange for a lower price for your cover and the certainty that we’re on your side – for real?

I look forward to hearing your thoughts – maybe even in person as Startupbootcamp InsurTech is organising a social event: meet the start-ups on February 9th 🙂

Laka (formerly Insure A Thing), is a UK-based InsurTech start-up looking to turn General Insurance as we know it on its head. We are working on an entirely new product category, offering honest, simple and affordable coverage for your belongings.

**If you are an avid cyclist then join our journey today. Get your quote now.