INSUBCONTINENT EXCLUSIVE:
high-end bicycle owners, has raised $1.5 million in seed funding
enter new insurance categories and for international expansion, including South East Asia.Founded in 2017, Laka has developed what it claims
is a unique insurance model that sees customers only pay for the true cost of cover
If there is no claim, the premium that month is zero
it is potentially much-better aligned with customers, meaning that fewer claims mean lower costs for the entire Laka customer base
As long as it stays on top of fraudulent claims, customers stand to benefit with a more cost-effective and fairer insurance
claims, the less profit it makes
In the meantime they can reinvest the available capital
in the form of a stop-loss agreement for which Laka pays a small fixed fee per policy, per month
Any exposure above the cap is absorbed by Zurich, acting like a reinsurer.Hartwig says that in months with a lot of claims, this is where
