Insurance: a broader policy market with new means of urban mobility

new insurance products for a new type of user who opts for e-bike, electric scooters e scooter sharing. A perspective on this change comes from 24h assistance, a Milanese company associated with Confindustria ANCMA (National Association of Cycle Motorcycle Accessories). It takes place on the occasion of the tenth anniversary of Motoplatinum, its first product for motorcyclists born from the need to combat the high cost of insurance, with over 1 million vehicles insured since 2012, according to the press release.

The prospectus

Among the people who decide to move with two-wheeled vehicles, especially in urban areas, more and more people are using traditional or pedal-assisted bicycles, as well as bike and scooter sharing services or electric scooters. A reality linked to market numbers with a growth figure for e-bikes of 5% in 2021, according to indications, after the interest noted in the previous year and over 1,6 million traditional bikes purchased; also taking into account the growing diffusion of sharing services and the presence of electric scooters in cities, with 2,5 million pieces circulating in Italy.
Values ​​that are met by an expansion of the insurance market with the arrival of new solutions. 24hassistance has launched two products in recent months to meet the new demand for mobility. Multimobility was born, the first policy in Italy that protects drivers of bikes, e-bikes and electric micromobility vehicles owned or shared offered by 24hassistance and Bikeplatinum, an insurance that protects the bike from theft, even when parked on the street, as indicated. Two insurance proposals that did not exist until recently, a sign of an ongoing transformation of city mobility, characterized by new scenarios also keeping safety in mind.
Returning to the analysis, the Team Datalab di 24h assistance considered that around 40% of its customers have started using new vehicles for urban mobility in addition to or as an alternative to the car and public transport since 2020. Of these, 61% used them more than twice a week and today these percentages have increased respectively to 60% and 72%. We are talking equally about young men and women, aged between 18 and 34, who opt for micromobility and soft mobility vehicles to get around the city: 45% electric sharing scooters, 30% bikes, 25% scooters .
The main reasons for the choice have changed, compared to the times of the pandemic and the need for social distancing in 60% of cases. In the first half of 2022, those who used alternative mobility solutions did so for greater time flexibility, to move quickly through traffic and save on petrol, restricted traffic zones and parking in 39% of cases, as indicated.

Image: Confindustria ANCMA