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A primary-of-its-kind providing, Bboxx Shield, gives intensive safety to electrical motorcycle customers and vital financial savings of over 40%.
The electrical bike sector in East Africa is beginning to flourish. Kenya is the most important marketplace for bikes, with over 2 million inside combustion bikes on the street, and we are actually seeing some vital traction available in the market. As recently reported“In 2023, there were 70,691 motorcycles sold in Kenya. 2,557 of these were electric. That means 3.6% of motorcycles sold in 2023 in Kenya were electric. That is almost 4%! Soon the market share will reach the critical 5% threshold, which is generally viewed as the tipping point indicating the start of mass adoption. The share of electric motorcycles rose to 3.6% in 2023 from 2.8% in 2022 and 0.5% in 2021.”
We’ve one other thrilling replace as we speak. This time from Rwanda! There are actually over 6,050 electrical bikes in Rwanda. Ampersand leads the best way with over 3,850 bikes in Rwanda, Spiro now has over 1,800 in Rwanda, and they’re adopted by REM, SAFI, and Amazi. There are round 150,000 bikes in Rwanda’s complete fleet of bikes, which means that 4% of all of the bikes in Rwanda are actually electrical, and it’s about to get even higher!
From January 1, 2025, solely electrical bikes may be registered in Rwanda. No extra new registrations of inside combustion engine bikes will probably be allowed within the nation. To assist catalyse adoption of electrical bikes and encourage riders to change from their outdated fossil-fueled bikes to newer electrical bikes, Bboxx, the data-driven tremendous platform, is introducing a transformative insurance coverage product, Bboxx Shield, providing complete and inexpensive protection for electrical motorcycle riders in Rwanda.
Bboxx Shield, Bboxx’s first insurance coverage product, is ready to rework the Rwandan insurance coverage panorama by offering monetary safety beforehand out of attain for a lot of motorcycle customers. Created in collaboration with Radiant Yacu, its distinctive data-backed PAYGo (pay-as-you-go) mannequin allows pricing over 40% decrease than the common market charge for complete insurance coverage, making it an inexpensive possibility for motorcycle homeowners who sometimes rely solely on third-party protection. Bboxx says this innovation saves riders as much as 44% on insurance coverage prices per yr, permitting them to put money into different important points of their lives, similar to family welfare and household help.
Bboxx says the brand new Bboxx Shield marks an important step in addressing Rwanda’s low insurance coverage penetration, which at the moment stands at lower than 1%, by making insurance coverage each accessible and inexpensive for extra individuals. Designed solely for electrical bikes, the product gives an additional incentive for riders to change from conventional inside combustion engine (ICE) bikes, de-risking the EV transition.
Anthony Osijo, Bboxx CEO, stated: “With the launch of Bboxx Protect, we are doubling down on our commitment to serving existing markets while making affordable, comprehensive insurance accessible to motorbike riders who have long been underserved. By reducing financial risk and offering greater security, we are empowering thousands of customers to protect their livelihoods while contributing to a cleaner, more sustainable future.”
Ovia Ok. Tuhairwe, Radiant Yacu Insurance coverage CEO, stated: “Through our strategic partnership with Bboxx, we are introducing a pioneering insurance solution that equips motorbike riders with the financial protection needed to confidently transition to electric vehicles. By offering affordable, comprehensive coverage tailored to EVs, we are not only enabling a safer and greener future, but also addressing Rwanda’s low insurance penetration. This collaboration will make insurance more accessible to underserved communities, promoting financial inclusion and driving long-term economic growth across the country.”
Bboxx Shield gives unique protection for Bboxx Experience clients, together with safety in opposition to materials harm, fireplace, third-party liabilities, life insurance coverage, and complete everlasting incapacity. The preliminary rollout targets 1,500 clients, with the potential to influence the 150,000 motorcycle riders throughout the nation who at the moment use easy third-party insurance coverage protection.
Alongside this revolutionary new product, Bboxx is pioneering a brand new benchmark for the EV and insurance coverage sectors by leveraging good knowledge monitoring and Bboxx Shield to foretell and stop street accidents. This expertise reduces the probability of accidents, offering riders with a safer, extra dependable expertise. Mitigating dangers by real-time insights additionally presents a major benefit for insurers given the improved threat administration.
Because the market share of electrical bikes begins to develop in East Africa, it’s nice to see EV-focused merchandise being launched similar to this new Bboxx Shield. 2024 seems to be the yr that electrical bike corporations in East Africa actually began to scale. These firms are setting as much as ramp up manufacturing once more in 2025. It seems like 2025 goes to be even higher.
Photos courtesy of Bboxx
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