January 10, 2024: The insurance platform Korint announces a partnership with Wakam to launch the first employee bike insurance in companies in France.

Wakam will be the insurer of the Employee Bike product offered on the Korint platform and designed to support green mobility by facilitating bike insurance in the professional context.

Korint organises the distribution of this product through partner brokers. Several brokers have already begun approaching their clients, and commercialization will accelerate with the official launch.

Bicycle mobility is growing rapidly, but insurance is lagging behind this new usage:

• 92% of bicycles are not insured against theft or damage, despite over 320,000 bike thefts in 2022.

• Many existing insurances are not suitable for the professional setting (excluding coverage in case of professional accidents), even though more than 70% of daily bike commutes are work-related.

• An employee using their personal bike for work does not benefit from any insurance convenience – whereas companies finance public transport and long-term rentals (Véligo…).

In this context, the Employee Bike insurance meets a strong market demand:

• Reassuring employees who use their personal bike for 'bike commuting', with clarified guarantees: theft, damage, assistance, professional use, personal accident (optional)...

• Enabling companies to commit tangibly and effectively to the ecological transition

• Replicating the principle of social benefits (meal vouchers, health insurance) for the Employee Bike. Therefore, Korint is deploying a 100% digital platform for simple product management.

• Being financially effective and flexible, thanks to the product's eligibility for the Sustainable Mobility Allowance

With Employee Bike insurance, employees benefit from easy and reassuring coverage for their personal bike, and companies enhance their employer brand and team loyalty!

Wakam is a B2B2C insurance company that designs tailor-made insurance solutions distributed under a white label by over 150 distributing partners, through its Play&Plug® technological platform. Present in 32 countries and with a turnover in 2022 of over 650 million euros, mainly achieved outside of France, Wakam is the European leader in digital and embedded insurance. Wakam, in line with its societal commitments, is a mission-driven company whose purpose is to 'make insurance transparent and impactful'.

Korint is a Paris-based startup deploying a new generation of insurance platform. It specializes in B2B mobility insurance products (bicycle, fleet auto, B2B2C auto, assistance, ...). The Korint platform enables the rapid launch and 100% digital management of complex insurance products currently managed manually. Korint operates a Tech MGA model combining tech platform provision and business partnership in the design and deployment of products.

Launched at the end of 2022, Korint raised €2 million from the investment fund 360 Capital and from renowned investors.