New strategic partnership for Luko, which joins forces with Decathlon to directly offer its electric scooter insurance to customers of the brand.
Full-fledged development
The year 2022 has been full of news for Luko, which he claims to be first insurtech in Europe aimed at individuals. In January, the startup founded in 2018 announced the acquisition of Coya, a German digital insurer that opened up the continental market for it with its European passport.
In March, on the national territory, Luko also won the first “tender notice” for a group home insurance contract. The 10,000 subscribers were thus able to take advantage of advantageous coverage negotiated with the new insurer.
And this autumn, Luko enters into a partnership with an emblematic French company: Decathlon. The partnership between the two companies is intelligent, because the sports equipment supply chain is taking full advantage of the enthusiasm for new forms of mobility.
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Enthusiasm for the new mobility
According to the Federation of Micro-Mobility Professionals (FP2M), it sold for nearlyone million electric scooters in France last year, against just 100,000 in 2017. A small revolution that Luko overwhelmed in 2018 by proposing insurance for scooters from 3.30 euros per month.
Insurtech will now be able to continue the development of this product within the Decathlon brands, as the insurance will be offered by the equipment manufacturer when its scooters are sold in stores.
But Luko’s B2BC strategy also wants to be part of a prevention approach. The insurer recalls, in fact, that the insurance obligation for users of NIEV (New Individual Electric Vehicles) it is respected by only 20 to 30% of them.
Electric scooter: insurance is mandatory
Indeed, in France, all motorized land vehicles must be insured (article L211-1 of the Insurance Code), at least for civil liability (civil liability insurance for two-wheelers). More often than not, new mobility enthusiasts think they are covered by the civil liability included in their home insurance. But in the vast majority of cases it only covers the use of non-electric bicycles.
Beyond the risk of uncovered injury, the “knights” also risk a fine of 3,750 euros. It is therefore also for information that this new partnership will see the light, as explained by Jordan Simon, head of partnerships at Luko:
“As a committed neo-insurance company, Luko puts prevention at the heart of its priorities. We have been witnessing the explosion of the electric scooter market for several years, but unfortunately very few French people are aware of the insurance obligation. Thanks to this partnership, the quality of the Decathlon teams’ advice will be able to go hand in hand with prevention and thus reach more French people, to better protect them”.
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