3 reasons why bike brands should offer insurance to their customers

3 minutes to read
In a nutshell

It’s absolutely undeniable, cycling enjoys a huge success worldwide. Eco-friendly, the bike allows people to avoid traffic jams, to do exercise while having fun and to get some fresh air with their family. For many, cycling has also truly become an alternative to traditional modes of transport. In this article, we explore with you the benefits of insurance and why it should be a priority in your retail strategy.

1. Answer your customers’ need for peace of mind

With the pandemic encouraging commuters to switch to bikes, and cities looking to improve air quality, the bike revolution is just getting started. And with this lifestyle change comes the need to get good protection, should life decide to get in the way.

By opting for a bike, consumers invest time and money to find the perfect vehicle. Speed, comfort, practicality and elegance, each individual has his/her own requirements. One thing common to all, though, is the wish to make this investment a lasting one.

Every year, tens of thousands of bikes are stolen all over Europe. In France, for example, more than 400,000 bikes are stolen every year. Bike thieves are operating in an increasingly sophisticated way and a padlock is not likely to scare them off. Protection against such events is essential. All the more so when the bike is used as a functional mode of transport.

By proposing comprehensive insurance at checkout, you prioritise your customers’ needs for security and freedom. And today we know that success lies in putting people first.

3 people laughing on a bike

2. Enrich your offer with a high-value service

Strengthen consumer trust and reinforce your brand with positive experiences. Much more than just insurance, an embedded solution enables you to broaden your horizons and offer a quality and modern service, making you the one-stop-shop for bike enthusiasts.

By making insurance an integral part of your strategy, you increase your ability to create value for your customers and your business. However, insurance is a complex subject, which is why it's important to choose the right partner to guide you and support you in this project.

Theft, material damage, assistance, deductible, depreciation, exclusion during the night, professional use, global coverage, multilingual customer care... All of these aspects need to be carefully considered to guarantee the best possible customer experience.

At Qover, we ensure that your brand is reflected in the superior products and customer care we deliver to your clients. We are a tech company, but people will always come first. Your customers are never left alone or worrying. But don't take our word for it, go and check out our numerous TrustPilot reviews!

A woman on a bike on a beach in front of the ocean, with a surfer board under her arm.

3. Increase your revenue effortlessly

Many companies have successfully scaled up by diversifying their portfolio and offering add-on services.

With insurance, not only do you bring value to your customers, but you also increase your revenue effortlessly. Results are nearly immediate: each new contract generates profits for your company with minimal effort.

Embedded insurance at checkout has very high conversion rates. According to our latest data, more than one in two people select insurance when purchasing their bike.

For the most curious, we have created an online calculator that allows you to simulate your potential increase in income in just a few clicks.

In conclusion, regardless of your interest in offering insurance, understanding your clients' needs is key. Only the right partner and the right insurance solution will guarantee you a successful outcome, both in terms of customer satisfaction and revenue.

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