British technology start-up Babel Cover has joined forces with Maltese insurer Atlas and emerging technology firm Piprate to release a fully digital insurance product for bicycle.
The new policy is part of Babel’s upcoming digital first inter-connected financial services products. It will insure the bicycles of competitive cyclists, triathletes and commuters of Malta in the pilot phase.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The team intends to carry out this new live and controlled product and technology testing as a framework for release of new products and more countries.
Atlas Insurance CEO Matthew Brockdorff said: “With our experience both as a leading insurer and protected cell platform in Malta, Atlas is pleased to provide insurtech start-ups with regulatory expertise, infrastructure and economies of scale only usually found in well-developed insurers.
“Piloting Babel Cover in Malta is also a natural fit with our pursuit of leading customer experience, where we are making significant investments in new innovative technology.”
Babel Cover founder and CEO Stuart King said: “Babel Cover believes buyers of insurance will ultimately benefit by having a fully digital product that offers more transparency, ownership and oversight of the insurances they purchase and the investments underpinning the premiums collected.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataPiprate founder and CEO Stan Nazarenko said: “This collaboration is an important milestone towards Piprate’s objective of providing a seamless, privacy-conscious way of exchanging insurance data.
“We are delighted to be a part of Babel Cover’s vision and the heightened attention on data protection, transparency and operational efficiency.”
