From product development to claims, micromobility options are creating new opportunities. Insurers that stay ahead of changes along the value chain can harness the potential of the e-scooter trend.
E-scooters have populated streets and sidewalks across major European cities seemingly overnight, echoing last year’s spread throughout cities in the United States. As the industry expands and matures, more European countries are passing legislation that makes insurance for e-scooters mandatory, creating a large opportunity for insurers. With an expected market size of €90 billion for micromobility by 2030, forward-thinking insurers across Europe stand to profit from developing innovative product and service solutions—and doing so quickly.
While risks are difficult to calculate and new types of claims are emerging, the benefits for insurance companies are clear. To navigate the nascent landscape and stay ahead of the curve, insurers must increase their knowledge and expertise, partner with the right organizations, and develop a tailored, rapid go-to-market strategy.