Bike insurance


CUSTOMER

Our customer is one of the largest roadside assistance companies in the Netherlands. Through cooperative partnerships, they are active in various IoT use cases.

CUSTOMER NEEDS

The electric bicycle has become an increasingly popular mode of transportation in recent times. Given the purchase price, thieves are also increasingly interested in these two-wheeled vehicles. Our customer wanted to create a bicycle insurance product equipped with smart technology to secure these precious bicycles. The aim of this insurance is that the company can guarantee that stolen bicycles can be recovered within 48 hours.

SOLUTION

For this purpose, KCS created the TraceME P2A3 module. This small track & trace device is designed in a robust housing which protects it against extreme weather conditions and vandalism. The module is equipped with LoRa-technology and various internal sensors for advanced localisation and to optimize the battery lifetime. In case of theft, special detection teams come into action to utilize our technology to retrieve the bike within 48 hours. Participating partners have noticed a huge increase in recovered bikes since this solution was introduced.

BENEFITS

Since this collaboration started, our customer has been able to integrate several partners to create a completely new ‘smart’ product in the insurance market. Over 100.000 bicycles have now been equipped with TraceME modules as part of this insurance package. A dedicated app lets customers report immediately if their bike was stolen. It also lets customers call for roadside assistance if needed, and even shows local points of interest. It has resulted in peace of mind for cyclists as well as a significant reduction in theft.