Cowboy introduces theft insurance for its bikes
Cowboy says the wish for insurance came from the community of Cowboy bike users, an important factor in the philosophy and marketing of the start-up.
Finding an insurer that could cover the bikes in all markets where Cowboy is present, however, was not easy. “It was an extremely long process, given our status as a start-up. We had to respect a certain time-frame linked to the insurance world,” says Cowboy CTO Tanguy Goretti. In the end, it was through another Belgian start-up, Qover, that Cowboy managed to reach a deal with the Dutch insurer NN.
Services to discourage competition
Over time, Cowboy wants to add a host of services to its offer. This way, the company wants to be able to be a single point of contact for its customers. A strategic choice, which could discourage potential competitors to enter the market, allowing Cowboy to maximize its potential in the niche market.
At the same time as introducing its bike insurance, Cowboy also slightly increased its capital to 1.175.000 euros. While Cowboy confirmed the capital increase, it does not comment.