Belgian startup Cowboy develops innovative electric bikes to improve urban mobility sustainably and efficiently. Founded in 2017, Cowboy’s bikes are lightweight with integrated features including an app, hydraulic brakes, intuitive gear-shifting, integrated lights, and a removable battery. It is now partnering with Brussels-based insurtech Qover to provide insurance coverage to its riders.
“From the get-go, it was clear that Cowboy needed a 100% vertically integrated insurance,” said Quentin Colmant, CEO at Qover. “To make it happen, a cross-functional Qover squad, from insurance specialists to developers, worked closely with the Cowboy team. The result is Easy Rider and Easy Rider Plus, an insurance experience worthy of a multiple Red-Dot-Award winner.”
After extensive market research, Qover decided that NN Insurance Services NV would be the best insurance partner. While the front-end is a simple tick-the-box interaction, insurance however is more complex.
Qover recently raised €8 million to accelerate its European expansion, and already insures 50,000 people across eight European countries through partnerships with companies such as Deliveroo. Qover was able to negotiate better premiums for Cowboy by explaining its solutions, like its Find My Bike feature. The bike’s sensors are also able to notify users if there are unauthorized movements, as in the case of theft, and Cowboy also provides a completely remote diagnostic of the bike’s health, eliminating the need for taking pictures or consulting experts in the case of a claim.
Cowboy is currently active in four markets – Belgium, the Netherlands, Germany, and France. The insurance packages will first be sold in Belgium and The Netherlands, followed by other markets.
“We want Cowboy to be a constant companion of our customers in their urban lives, and we want them to feel safe and comfortable and protected on their journey,” said Adrien Roose, CEO and co-founder of Cowboy. “Our teams worked closely together to make this happen. Qover has proven to be a true partner that perfectly understands our business needs.”
All Cowboys will have access to the Easy Rider Basic plan with the Find My Bike feature. Customers who want to go the extra mile to ensure their bike is safe and sound can now also choose between two protection packages: Easy Rider Standard and Easy Rider Plus.
The Easy Rider Standard package insures Cowboy bike owners against theft; owners receive a voucher for a new bike in the case of theft, so their mobility is not disrupted. Filing a claim is made easy: customers only need to scan a copy of their police report and fill out a short online form, all centrally available in the Cowboy app.
In addition to theft insurance, the Easy Rider Plus package offers damage insurance in the event of vandalism or a crash, in addition to theft insurance, while getting faster customer support.
Both packages include a real-time notification as soon as the bike is moved without the owner being near it, alerting them to a possible theft or damage attempt.