Roojai launches bike insurance

In partnership with LMG Insurance, a non-life insurance provider in Thailand, safe, experienced big bike riders will now get up to 30 per cent off their insurance through Roojai. 
It promises an online quote in less than 60 seconds and the option to buy online just like car drivers. 
Monthly payments can be made by card for bikers needing comprehensive insurance. And customers can carry out a remote bike inspection in less than 10 minutes using the Roojai app. Unlike traditional bike insurance, there is no need for an appointment. 
Nicolas Faquet, founder of Roojai, said the platform’s calculations are intended to benefit mature riders. 
“Traditional motorcycle insurance has always been based primarily on the value of the bike itself. The more expensive the bike, the higher the premium. While it is certainly a parameter to assess the cost of an accident, Roojai and LMG are focusing more on the probability of having an accident in the first place. 
"Understanding what the bike is used for, the rider’s safety record and experience and the power to weight ratio of the bike can all influence the likelihood of having an accident. By focusing mainly on the lower risk riders, LMG and Roojai can dramatically cut insurance costs for the safer rider.”
Dr Boonsong Sermsrisuwan, sales chief at LMG, said: “LMG brings its long-standing international and Thai expertise in insurance markets to support Roojai’s newest product. With Bt1.7 billion in authorised capital, and with the Insurtech skills Roojai has to offer, it is a win-win situation. Big bike customers will get a trustworthy and reliable coverage partner with excellent customer service, at a competitive price.”