Bike tracker and insurance protection against theft in one: coverage up to 13,000 euros
Rostock (ots) – The insurance startup hepster enters into a cooperation with “BikeFinder” from Norway in Germany and Austria in June. The Scandinavian company has chosen hepster exclusively from among various insurance providers and is thus launching its market entry in both countries: In Germany under the name FahrradFinden and in Austria as BikeFinder.
With this cooperation hepster underlines its status as a state of the art provider of embedded insurance solutions. Especially the market-leading position in the digital bike and e-bike segment was decisive for the cooperation with the up-and-coming startup from Scandinavia.
BikeFinder is already active in all Scandinavian countries as well as in Spain and Great Britain. In each country, the international company cooperates with a different insurance provider. For Germany and Austria alike, however, the choice fell on hepster. The decisive factors for BikeFinder were hepster’s proven expertise in the German-speaking market and the customizable design of the insurance solution. The international teams of the two young companies thus hit the nerve of the time, and want to make the riding experience for cyclists worldwide worry-free and flexible.
BikeFinder offers a tracking device integrated into the bicycle with a long battery life, which is suitable for all types of bicycles. Accurate tracking is provided by GPS and GSM technologies. The device is offered by BikeFinder through a monthly subscription model with optional theft protection provided by hepster. hepster takes care of the insurance coverage. In the event of damage, the customer thus has a claim against the Rostock-based InsurTech.
BikeFinder is sold both online and stationary via dealers. Bicycles and e-bikes are insured up to 13,000 euros against theft, robbery and damage, and even worldwide from 90 days of travel. Loose parts are insured up to 100 euros. There is no deductible for 12- and 24-month subscriptions; for monthly subscriptions, the deductible is 50 euros.
BikeFinder’s experience from Scandinavia so far shows that 75 percent of stolen bikes are found with the BikeFinder tracker. 78 percent of BikeFinder customers in Scandinavia take out insurance. For Germany and Austria, the initial expectation is 60 percent take out insurance.
Alexander Hornung, Co-Founder and CPO of hepster, explains, “The cooperation between BikeFinder and hepster means another milestone for us in the field of IoT – ‘Internet of Things’ – and mobility solutions – the combination of hardware, software and demand-oriented service offerings. With BikeFinder, we are demonstrating exactly what hepster set out to do in the market six years ago:
Situational insurance solutions that are flexibly and precisely integrated into the customer experience at BikeFinder and available to the customer at any point of sale. For us, the epitome of embedded insurance.”
Birgitte F. Sunde, CEO of BikeFinder, says of the cooperation: “We are delighted to partner with hepster, a pioneer in digital bike insurance. BikeFinder and hepster have a common goal: to help our customers in case of bike theft. Together, we can offer our customers the ability to recover their stolen bikes and the peace of mind that their BikeFinder subscription includes bike insurance from the market leader. Just in case.”
Fabian Pöhnert, Head of B2B Sales, adds: “We are delighted to be supporting BikeFinder as an insurance partner in their market entry in Germany and Austria. By combining our strengths and expertise in our respective markets, we promote mutual expansion. In this way, we have created solutions that are optimally aligned with customer needs.”
The Rostock-based InsurTech was founded in 2016 and offers an API-driven ecosystem that enables companies from all industries to integrate needs-based and individualized insurance into their offerings. Under the approach of so-called embedded insurance, hepster creates the best insurance experience for its customers and partners. The InsurTechs portfolio includes mobility, electronics, equipment, travel, pet and accident insurance. Since 2017, hepster has already won over 2,000 partners and more than 150,000 customers with over 300 customized insurance products. For its excellent customer service and insurance services, hepster has received more than 15 awards so far, including from TÜV Saarland and renowned magazines.
Founded in 2015, BikeFinder’s roots are in the heart of Stavanger, Norway’s entrepreneurial and innovative tech startup community. The BikeFinder team quickly began developing an integrated tracking device suitable for any type of bike. The device offers accurate tracking through GPS, GSM and Bluetooth technologies and a long battery life -suitable for commuting and long bike rides. In 2017, BikeFinder was one of two winners in Petter Stordalen’s “Strawberry Million” -a competition with over 2000 other startups. Today, that entrepreneurial spirit continues to inspire our growing and diverse team as we work together to create the ultimate tracking tool for your bike.
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