Embedded insurance to boost customer satisfaction and revenue growth

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The client

Cowboy is an e-bike start-up that mixes design, elegance, affordability, and technology to connect cyclists to their bikes through an app.

Its main goal is to improve urban mobility and take commuters to their destination in a more enjoyable, sustainable and efficient manner.

Based in Brussels, Belgium, Cowboy was founded in 2017 by entrepreneurs Adrien Roose, Karim Slaoui and Tanguy Goretti.

The challenge

Cowboy unites innovative technology, sleek design and impeccable customer service in one electric bike, designed for freedom of movement in urban areas. Cowboy's e-bike is sold in several European countries.

With the risk of theft and damage being key concerns for city cyclists, Cowboy was looking for a solution to support its customers in the best possible way. In order to accommodate Cowboy's seamless user experience, it was clear that they needed a 100% vertically integrated insurance solution focusing on theft and damage protection.

The biggest challenge was finding an insurer capable of creating this frictionless digital experience. After all, being active in several countries means that Cowboy has to comply with local insurance laws and claim management requirements.

Qover's insurance API connects to Cowboy's app, allowing remote diagnostics.

The solution

To combine the needs of this mobility start-up with those of an insurer, Qover created a cross-functional squad, including insurance specialists to developers. The team worked closely with Cowboy to create a seamless insurance experience through a simple, tick-the-box onboarding.

Cowboy's e-bikes are jam-packed with technology and sensors that can monitor unauthorised movement, GPS tracking and remote diagnostics. But being digital integrated is almost mission impossible for a traditional insurer – let alone having a simple, harmonised way to connect a pan-European insurance solution and a 90% customer satisfaction rating. But Qover was up to the challenge.

Qover is insurance agnostic, so after extensive market research, we found that NN Insurance Services NV would be the best insurance partner. By helping Cowboy explain its business and solution, like the Find My Bike feature, Qover was able to negotiate far better premiums and get Cowboy the best deal on the market.

Embedded insurance is a great way to add value to the customer experience.

It was a pleasure to work with Qover. We love technology and bikes, but we have no insurance experience. It’s a complex matter, especially if you want to scale the product in different countries. Qover helped us define the best product and bring it to our customers.

Tanguy Goretti
- Cowboy Founder

The results

Cowboy users in Belgium, France, the Netherlands and Germany can choose between two insurance packages: Easy Rider Standard and Easy Rider Plus. Nearly half of Cowboy shoppers add one of the insurance packages to their basket, which shows the company is clearly offering value to their riders and community.  

For Cowboy itself, adding insurance couldn't be easier, with one centralised partner who handles everything from claims management to customer support.

The Cowboy e-bike has a unique customer experience – the only way to maintain control was to use a 100% embedded insurance solution.
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