Access to quality and affordable insurance has long been viewed as a major roadblock for new and growing micromobility operators. There’s hardly any consistency in the micromobility insurance world when it comes to city requirements, and, since the industry is still relatively new, there’s minimal data available for underwriting purposes, though that’s starting to change as more reports emerge.
How can operators effectively minimize scooter-related injuries? How do you underwrite a risk for a small scooter operator with a 50-vehicle fleet?
We get these types of insurance questions all the time from our partners, and we get that insurance is a key, yet complicated component of starting and growing a scooter and bike-share business. So Joyride has partnered with three global insurance providers to offer our customers exclusive preferred rates and access to informational resources like workshops and webinars. As a one-stop hub for getting your shared mobility business seamlessly off the ground, it only makes sense for us to connect our operators with the right insurance provider, too.
Among our partnering providers are Christensen Group Insurance and Founder Shield, both of which offer exclusive packages tailored to Joyride customers’ needs. These companies have specifically devoted micromobility insurance groups and are continuously mining industry data in order to offer the most accurate policies to vendors of all sizes.
Additionally, through our insurance partnerships with Marsh Insurance and Australia-based Zipidi our customers will have access to a number of exclusive offerings integrated in the Joyride platform that include:
- A variety of unique insurance products including personal injury coverage on a cents-per-minute basis that Joyride can easily integrate to an operator’s dashboard
- Claims access through a single online portal via the Joyride platform
- Policy reviews, compliance advice and assistance with city RFPs
- Exclusive access to quarterly and half-year insurance webinars and workshops, as well as online learning tools
Want to find an insurance plan that’s right for your location, budget and business size? Contact us for more details about our partnerships and we will put you in touch directly with these providers.
Why is insurance vital to your business, no matter the size? There’s inherent risk and liability in the micromobility industry both to riders and operators, it just comes with the territory of transporting people from one place to another.
Accidents happen, but there are some uplifting reports to show that they don’t occur as frequently as some may think. For example, while this month’s JAMA Network Open study drew some jarring headlines about scooter injury increases, the report cited that only two serious injuries (requiring ICU treatment) resulted from approximately three million rides (a serious incident rate of one in 1.5 million rides). Currently in the US, there is an overall scooter incident rate of 1.9 per 100,000 rides, according to the Center for Disease Control. And that rate is reduced to 0.02 per 100,000 rides for helmet wearers.
According to these studies, most of these injuries are related to inexperienced riders, a lack of helmet use and/or riding under the influence.
Operators can address these issues by:
- Rider onboarding tips and safety clinics
- Limiting speed limits for inexperienced riders (up to the first five or 10 rides)
- Supplying helmets with scooters
- Offering discounts/incentives to helmet wearers
- Introducing in-app sobriety tests
…and, of course, being properly insured by a reliable provider.
For more information about our exclusive insurance coverage opportunities, contact us today.