Already partnering with global sports giant Decathlon and having recently acquired fellow bike insurance broker Cylantro, Laka is well-positioned to deliver best-in-class insurance solutions tailored specifically for cyclists. French D2C customers can now enjoy comprehensive coverage that includes theft insurance, accidental damage, roadside assistance, and race and travel cover. Giving customers the perfect cover for every ride.
What sets Laka apart is its unique insurance model that echoes the principles of French mutualism. With no excess or depreciation, no long-term commitment, and a lightning-fast claims-handling service by bike experts, Laka ensures that customers are always put first. Building on its green mobility reputation with partners such as Decathlon, the world’s largest sports retailer, Gazelle and Riese & Müller, Laka is cementing its commitment to Europe by launching a D2C offer in France. With 60% of cyclists surveyed in France stating that they use their e-bikes to replace other motorised forms of transport in their daily lives, it's important that these riders can be protected with award-winning insurance. Laka also has a unique expertise in the market in terms of Damage cover for sports-focused cyclists, including during races.
Founded in 2017, Laka has fixed what customers typically dislike about conventional insurance: long contracts, tons of fine print, and poor customer service. Whilst insurers benefit when a claim is rejected, Laka earns a success fee only when a claim is settled, and thus aligns interest with its customers. Its customer-centric approach, which comes with zero excess and monthly contracts, has resulted in 6 consecutive wins of Best Cycle Insurance Provider.
Laka’s main offering is collective-driven insurance – with its flagship product being award-winning bike, e-bike and e-cargo bike insurance – alongside solutions for commercial partners. Laka uses a collective-driven insurance model to make insurance fair. Each month’s claims are shared amongst Laka’s collective of cyclists, so the monthly bill varies up to a guaranteed cap. Now cyclists only pay for what’s needed, not what’s expected.
On the launch of France, Tobias Taupitz, Laka CEO said, “Laka is really excited to be able to offer innovative insurance for all. We’re determined to provide a best-in-class experience for everyone and keep people pedalling. Customers can fully enjoy their bike, knowing that Laka has their backs and swiftly get them back on the saddle if needed.”
French market expert Thomas Arnou also noted that “in France, bike insurance providers are either generalists without proper bike expertise, or specialists with a very small portfolio that doesn’t allow them to have mutualization among customers. Generalists will struggle with the claims experience, as handling a smartphone or washing machine claim is not the same as handling a bike claim. French specialists offer a product that requires a long-term commitment, excess and depreciation of the bike value over time because their portfolio is small and volatile. Laka can provide a solution to that thanks to global Europeanmutualization and the acquisition of the existing portfolio of Cylantro in France.”
As part of the launch in France, all customers are eligible for free 30-day insurance using the promotional code LAKAFRANCE2024.
For further information about Laka, visit Laka https://laka.co/fr/
For further information contact: thomas.arnou@laka.co
