Bboxx, a data-driven super platform, has launched its first insurance product, Bboxx Protect, targeting electric motorbike (EV) riders in Rwanda.
The innovative product aims to make comprehensive insurance accessible and affordable in a country where insurance penetration is less than 1%.
Why it matters
- Motorbike riders in Rwanda traditionally rely on minimal third-party coverage.
- Bboxx Protect, developed with Radiant Yacu Insurance, uses a PAYGo (pay-as-you-go) model to offer premiums over 40% lower than market rates for comprehensive insurance. Riders save up to 44% annually, freeing up resources for other priorities like family welfare.
The details
- Coverage includes material damage, fire, third-party liabilities, life insurance, and total permanent disability.
- Initially available to 1,500 Bboxx Ride customers, with potential to impact 130,000 riders who currently have limited insurance options.
- Tailored exclusively for EVs, the product incentivizes the shift from traditional motorbikes, aiding Rwanda’s transition to cleaner energy.
What they’re saying
- Anthony Osijo, CEO of Bboxx: “We are empowering thousands of customers to protect their livelihoods while contributing to a cleaner, more sustainable future.”
- Ovia K. Tuhairwe, CEO of Radiant Yacu Insurance: “This pioneering solution equips motorbike riders with the financial protection needed to confidently transition to electric vehicles while addressing low insurance penetration.”
Zoom out
Beyond affordability, Bboxx is leveraging data to improve safety. Smart monitoring technology predicts and prevents accidents, reducing risks for riders and insurers alike.
What’s next
If successful in Rwanda, Bboxx Protect could expand to other African markets, setting a new standard for EV insurance and financial inclusion.
