The insurance startup Hepster is starting a cooperation with “Bikefinder” from Norway in Germany and Austria. Together with the Scandinavian company, a security package consisting of a bike tracker and theft insurance coverage is offered in one.
Bikefinder is already active in all Scandinavian countries, Spain and Great Britain. The international company cooperates with a different insurance provider in each country. Hepster was chosen for Germany and Austria. For Bikefinder, the deciding factors for this decision were Hepster’s experience in the German-speaking market and the customizable design of the insurance solution. The Scandinavian company is launching its market entry in Germany under the name Fahrradsuchen and in Austria as Bikefinder.
Innovative insurance for an innovative tracking provider
Bikefinder offers a bike tracking device with a long battery life that is suitable for all types of bikes. Precise location is provided by GPS and GSM technologies. Bikefinder offers the device through a monthly subscription model with optional theft protection from Hepster. Hepster will provide insurance coverage. In case of damage, the customer has the right to claim against Rostock InsurTech.
Protection is sold both online and stationary through dealers. Bicycles and e-bikes are insured up to 13,000 euros against theft, theft and damage and this from a travel time of 90 days, worldwide. Loose pieces are insured up to 100 euros. There is no franchise for 12 and 24 month subscriptions, for monthly subscriptions it is 50 euros.
Previous Bikefinder experience from Scandinavia shows that 75 percent of stolen bikes are found with the Bikefinder tracker. 78 percent of Bike Finder customers in Scandinavia take out insurance. For Germany and Austria, Hepster initially expects 60 percent of the insurance contracts.
Integrated insurance solutions
The cooperation underlines the status as a leading provider of integrated insurance solutions, the digital insurer emphasized when presenting the cooperation. Above all, the leading market position in the segment of digital bicycles and electric bicycles was decisive for the cooperation with the Scandinavian start-up.
“For us, the cooperation between Bikefinder and Hepster means another milestone in the area of IoT – ‘Internet of Things’ – and mobility solutions – the combination of demand-oriented hardware, software and service offerings”, says Alexander Hornung , Co. -Founder and CPO of Hepster.