Aviva introduces new bicycle insurance
After signing a five-year capacity deal in which Aviva became the capacity provider for the majority of Ripe’s niche insurance products in the sport, leisure and business sectors, the insurer is introducing a new bicycle insurance product powered by Ripe Thinking to its customers.
The new product – Cycleplan – can cover multiple bicycles and accessories, both at home and while out and about. The insurance also offers liability coverage and there is a range of optional add-ons including legal expense coverage and loss of earnings insurance, in case the customer is injured while cycling and unable to work as a result.
Customers can access the product through the Aviva.co.uk site and the MyAviva customer portal, where they will be directed to the Cycleplan brand.
“Through our partnership with Ripe and Cycleplan we can now offer a specialist insurtech solution in this growing sector. Cycleplan is a well-known and trusted brand that will complement our wider home insurance offering. Its insurtech model means our customers will enjoy a fully mobile-enabled e-commerce experience and can get a quote in just a few clicks.” – Owen Morris, managing director, Personal Lines, Aviva.
“We partnered with Aviva because of the exciting prospect of accessing their channels to distribute our products. We’re thrilled that Cycleplan is our first Ripe product on the Aviva website. Our next plan is to offer Cycleplan through the Aviva app. It made sense to start with Cycleplan, given the recent boom in cycling. We’ve seen a huge demand for cycle insurance, increasing by 230% since the first government lockdown last year. Moving forward, we hope to offer more Ripe products in the sport, leisure and business sectors to Aviva’s customers.” – Paul Williams, CEO of Ripe.