Laka, a community-based insurer of cyclists, has unveiled a new recovery insurance policy for the UK marketplace.
Designed to support cyclists on and off the bike, ‘and for less than an Americano a week at around £11 per month’, Laka’s new Recovery product is backed by insurance giant Zurich. It is billed as ‘an accident and injury policy, and then some.’
‘It’s a new kind of cover that provides peace of mind for mind and body – connecting riders with specialist advice and treatments from world-class experts to help cyclists get back in the saddle stronger than ever.’
The company adds that the policy provides cover that goes wherever the cyclist does, anywhere in the world. It also covers cyclists’ off the bike adventures including skiing, surfing and hiking.
Having listened to its community Laka learned of cyclists’ challenges – such as injuries off the bike that meant they couldn’t ride and the hidden psychological damages behind accidents.
Laka engaged the expertise of Professor John Geddes, Head, Department of Psychiatry at University of Oxford who said, “A key step in psychological recovery after an accident is to return to the activity as soon as reasonably possible to begin to regain confidence.”
So Laka created a policy that aimed to answer these calls, offering 24 hour cover and providing psychological treatment too.
Even if cyclists have existing private health cover, Laka, at around one tenth the monthly cost, claims to provide a cost-effective specialist addition that covers the limitations of most traditional medical insurance policies that are more geared towards major injuries rather than bumps and scrapes.
The Laka package includes:
- Provision of specialists and treatments after an accident
- Up to £1,500 for any medical treatments needed – from physio to dental and mental support
- Access to virtual GPs for faster assessments
- Access to the services of a curated list of partners to help riders come back stronger
Partner services include:
- Rowe & King (coaching sessions and training plans by British Olympians);
- Wattbike (indoor bike trainers to build strength);
- Chimp Management (psychological assessment and advice from leading international performance coaches);
- Performance Chef (nutritional plans to support recovery);
- Rouleur (magazine subscriptions delivered) and others.
Tobias Taupitz, CEO and co-founder at Laka said “As an insurer for cyclists, our biggest concern is to help people to spend as little time off their bikes as possible. Whether someone’s bike has been stolen or they have an injury that’s stopping them from riding, the effect is the same – they’re not on their bike.
“That’s why we built a Recovery insurance product designed to limit time out of the saddle and minimise the impact of an injury on our customers’ lives. We found that different types of cyclists were impacted by injuries in different ways. So we created a comprehensive, best-in-class policy that puts the cyclist first.”
A Rowe & King spokesperson said, “Rowe & King are proud to be working with Laka to offer a coaching service – helping riders get back to fitness and enjoying riding their bike. We know how challenging it can be, not knowing how much of what type of training you should be doing. This is especially the case after coming back after forced time off.”
A Rouleur spokesperson said “We know only too well how rubbish it is to be laid out with an injury. We’re pleased to join up with Laka to help make things that bit easier for cyclists on the road to recovery. There’s not much worse for a cyclist than a prolonged or enforced period off the bike. We’re proud to be working with Laka to help make that time a little bit easier.”
Phil Ost, Head of Personal Lines at Zurich, added “Cycling will inevitably play a core role in a post-lockdown recovery in mobility, so it’s important we help protect not just bikes, but the cyclists too.
We are very pleased to be working with Laka to offer an innovative and digital led solution that will allow more cyclists to feel confident in getting back on the saddle.”
