- Cycle Insurance Disruptor Provides Leading Last-Mile Delivery Companies With
- Tailored Commercial Rider Cover
- Laka’s ‘Last Mile’ commercial client list features global leaders in this space, which includes; Randstad, EAV, Zapp, Urb-it, Jiffy, Dash, Foodstuff and Santis Global
Laka (www.laka.co), the specialist insurer of cyclists, and creator of an innovative new collective insurance model that has disrupted the consumer cycle insurance market has now turned its attentions to the commercial cycle and electric-assisted vehicle (EAV) sector, where its versatile commercial insurance offering is proving a big hit with leading ‘Last Mile’ delivery companies. Laka’s appeal is its ability to quickly adapt its unique, tech-based insurance model to provide tailored, cost-effective insurance cover for each different delivery company’s specific requirements.
Laka’s ‘Last Mile’ commercial client list already features global leaders in this space, which includes; Randstad, EAV, Zapp, Urb-it, Jiffy, Dash, Foodstuff and Santis Global. It has recognised that the same attributes that have made its consumer insurance proposition so compelling, are just as relevant for the commercial insurance market in general. In fact, Laka is now uniquely positioned in being able to provide a comprehensive, versatile commercial insurance model (covering e-cargo bikes, delivery riders, EAVs and cycles), for all manner of commercial companies, both in the UK and across Europe.
According to the Bicycle Association, approximately 2,000 cargo bikes were sold in the UK for commercial use in the past year, and a similar number were sold for use by families and individuals. Sales of bikes, which can carry heavy or bulky loads, are expected to jump by up to 60% in the UK over the next year, boosted by various initiatives at local and national levels to reduce carbon emissions and congestion. This includes the government’s £250m investment in walking and cycling infrastructure along with The Energy Saving Trust’s £2m fund in England last year along with loans and grants in Scotland to help businesses and local authorities purchase cargo bikes. With many European cities moving forwards with plans to improve walking and cycling and support a low sustainable recovery from the Coronavirus pandemic, we are rapidly moving towards a green mobility revolution.
According to Tobias Taupitz, Laka CEO, “We listened to cyclists to hone our consumer cycle insurance proposition and pioneered the concept of ‘collective insurance’, which has ensured a great deal as well as a great package of benefits for cyclists. For the commercial cycle and EAV market, we have followed the same process, taking time to listen to our business customers and tailoring our offering to best suit their requirements. As a result, we have quickly established ourselves as a major player in the tech-savvy ‘Last Mile’ sector and are already gaining significant traction in the commercial sector in general, providing an easily distinguishable, highly versatile and ultimately, highly cost-effective product.”
Sally Cleary, MD of Randstad Inhouse Services and Randstad Corporate Services says “Working in partnership with Laka is a perfect example of being able to offer our clients a solution above and beyond traditional HR services. We invested heavily in our tech-stack and we could really see the value of Laka’s innovative approach. The collaboration provides policies to thousands of our workers in multiple locations across the UK, with users reporting fantastic experiences due to Laka’s knowledge, professionalism and responsiveness to claims. It’s a strong partnership that provides flexibility, reassurance and exemplary service – for both Randstad and our dedicated workforce.”
Adam Barmby, CEO/Founder of EAV adds, “Partnering with Laka Insurance holds immense value for EAV by ensuring our vehicles are protected comprehensively. Our customers really appreciate the flexibility that Laka offers by being able to tailor its policies to suit the customers’ needs, specific to the commercial cargo vehicle sector. As part of EAV’s service, insurance is a key element alongside service and maintenance and leasing options, so it gives us great confidence that we can offer customers a complete vehicle package, as we expand with Laka across Europe.”
Urb-it’s Rayan Bannai, Innovation and Development Manager says, “We were looking for an insurance partner and product that was geared up to handle our rapid growth. Laka are able to provide bespoke solutions unique to the types of fleets we are operating, along with a simple-to-use product, making claims, repairs, emergencies and assistance easy for all.”
Laka’s collective-driven insurance model has revolutionised the traditional cycle insurance market. It provides cyclists with a fairer, more cost-effective, more cycle-centric way of protecting themselves in the event of theft, accident or injury. Its products have been designed from the bottom up by cyclists and it is this fundamental understanding of the DNA of the diverse ‘tribes’ of the cycling community that has inspired the creation of a whole new way of approaching insurance.
At Laka, out go complex contract clauses, painful excesses and labyrinthine claims processes. In comes the collective sharing of claims costs, based on actually occurring incidents and accidents, not speculation on their occurrence, as is the traditional insurance model and simple; user-friendly processes and a knowledgeable, helpful service team.
For further information about Laka check out the Laka website at (www.laka.co). For all commercial inquiries go to Laka Last Mile Insurance. For business enquires contact Ruth Grimoldby – [email protected] 0207 7940 7170 or Georgina Senior – [email protected]
Laka has challenged outdated traditional insurance to provide customers with a fairer, collective-driven approach to cycle insurance. Laka customers pay no upfront premiums and are instead charged based on the cost of claims submitted by the collective the previous month. Fewer claims result in lower charges. Laka customers work together as a collective and share the cost of claims. Laka handles all claims, divides the cost fairly and limits each customer’s maximum monthly spend with a cap based on the value of the equipment insured by each individual member. Laka members fully benefit from lower costs but are also protected if there are a high volume of claims in any given month.