Insurer Bikmo puts £500,000 of business through IBD tills in 12 months

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Cycle insurance firm Bikmo has passed a milestone of £500,000 in business generated for independent cycle stores in the past 12 months.

Speaking to CyclingIndustry.News, CEO David George said: “I can see why some insurers dish out vouchers – it’s easy for them and they probably get large discounts, but we prefer to support IBDs and customers prefer to pop in to their local bike shop to collect their bike ready-to-ride, not get a box on the doorstep.”

Partnering with independents all over the UK, the firm set out with the local store in mind, believing it necessary for insurance replacement customers to get personalised service.

“There are no losers – the customer is happy because they save an excess charge with this scheme, the retailer gets the business, and in return they let more customers know about Bikmo.”

Having hit the half million milestone, Bikmo now expects to reach £1 million in business by August 2017.

The firm has recently announced a Weekend Escapes promotion in which customers who buy a policy before Christmas will be offered a complimentary place on a cycling holiday in one of three locations in England, Wales and Scotland.

Retailers looking to link up with Bikmo as part of the Retailer Club can make contact here.