18/04/2024 Insurance Innovation


Laka seamlessly integrates into existing and new Connected Ecosystems provided by OEMs and IoTs, bringing a fairer and frictionless insurance cover to their customers.

Innovation presentation

Laka's Embedded Insurance Model brings partners:

1. Unique Value Add

Adding specialised insurance makes partners stand out from the competition. It takes away the hassle for the customer to find, calculate, and activate cover for their new bike. Furthermore, Laka's 5* customer service provides a unique excellence in the insurance industry.

2. Customer Retention

Customers receive a 1-2 year cover package or even a rolling subscription for that particular bike or other bikes from their brand. Laka also enables a circular economy system that only allows bikes to be replaced with bikes from their brand.

3. Scale & Consistency

Finally, due to the Embedded Insurance, all of partner customers regardless of location or local regulations can receive the exact same offer. Laka can grow with the company and activate one region after another.

Due to the unique Laka Model, fairer pricing for both customers and partners can be offered, matching their values and getting more people riding.

Uniqueness of the project

Laka is the only insurance provider using a variable share model to calculate the cost of premiums, allowing for a fairer cost of cover for all policyholders.

The policyholder tells us the value of their bike(s) and Laka calculates the monthly maximum cost of their insurance - 'The CAP'.

Policyholders rarely, if ever, pay the full amount each month, as Laka only charges what is needed based on the previous month's claims.

This model is scalable to also apply to commercial contracts with fleets, and group contracts for embedded insurance, as outlined in our Laka Embedded Insurance Pitch Deck.

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