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GlobalData findings reveal that e-scooter insurance coverage penetration charges are low, regardless of the elevated development of motorcycle and e-scooter sharing and possession in city areas. Nevertheless, the quickly altering mobility ecosystem will push insurers to rethink their merchandise, together with exploring new advertising and marketing avenues to serve potential prospects.
Leases are generally related to micromobility, however privately owned micromobility automobiles can supply insurers recent avenues for brand spanking new enterprise. Based on GlobalData’s 2023 Monetary Providers Shopper Survey, e-scooter insurance coverage penetration charges fluctuate considerably by nation however stay worryingly low even in international locations the place there’s a authorized requirement to carry insurance coverage. France has one of many highest e-scooter insurance coverage penetration charges globally, standing at 22.2%. Nevertheless, contemplating that riders are legally required to carry insurance coverage, this charge is disappointing. In Germany, insurance coverage holding can be a should to make use of e-scooters, however the charge is even decrease.
Regulators haven’t been in a position to sustain with the fast development of the e-scooter market, however laws surrounding the usage of e-scooters will immediate extra insurers to develop new merchandise. There are additionally discrepancies on the place people can journey e-scooters. In some international locations, e-scooters needs to be used on pavements slightly than roads, rising the chance of a rider injuring a pedestrian—notably as riders can navigate a lot quicker than pedestrians. On this respect, motor and fleet insurer AND-E has launched a brand new tagline, “Each Journey Protected,” because it focuses on related mobility safety. The insurer goals to supply merchandise that guarantee each journey—no matter its form or goal—is protected and safe. It presents safety for journeys with e-scooters, e-bikes, and e-cargo bikes, in addition to car-sharing and car-pooling providers. AND-E goals to supply a robust buyer expertise by means of easy insurance policies and straightforward claims processes. As governments globally implement measures to lower the variety of automobiles on roads in an effort to cut back COâ‚‚ emissions, and the price of automotive possession soars, the mobility ecosystem will proceed evolving. On the identical time, extra customers will embrace greener and extra handy modes of transport. These tendencies will create important development alternatives for insurers, with rising laws additionally driving development. Insurers that may cater for the rising micromobility area early usually tend to seize a bigger share of the market.
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