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Persistence pays off

LAKA offers a community-centric approach to bike insurance. Instead of customers paying an up-front monthly fee and receiving a service only when they need a payout, Laka’s approach is to handle claims first, then total up the costs at the end of the month and split the fees amongst its members retroactively. It’s like splitting the bill at dinner after a great meal with friends. We wanted to make sure that as a company we would always act in our customers’ best interest and it became clear that the way to do that was to turn the whole insurance model on its head.

Business|Nov 8, 2019
Business