Trends we picked up in claims as insurers of bicycles

[LazyTrailRider]

Please show me your chain you carry in your back pocket to lock your bike when going for a pee after a race. I would also like to see the chain and lock you suggest for a roofrack over and above what they come with from Thule.

I never suggested a lock for a roofrack, nor did I suggest a lock which is practical to carry with on rides.

 

My point was that bikes are extremely high-risk when outside a controlled situation (such as locked inside a garage/house), unlike vehicles which are to an extent self-securable. Not only are they high risk items, but the risk is also very difficult to quantify from an underwriter's perspective. Guess what happens because of this? Insurers (underwriter resellers) realise that if the full risk profile would price them out of the market, so they follow a different model: 1) Sell something based on a lower risk with a ton of conditions ("impractical" locks everywhere) and accordingly 2) repudiate claims, most likely with the thinking that it's still more profitable taking the hit of a few pissed-off clients when the volumes are taken into account than raising the price to fully cover the risk.

 

All of the above is why my bikes are only covered for theft out of my garage, a risk outside my direct control. I simply don't leave them on bike racks, or unattended at rides. Luckily, I don't do the typical "funride" on a weekend or any of these mass dirt-roadie events, so it works out well for me. For those who don't have these managed conditions, the reality is simple: a bike is a @#$ risky expensive thing to take into the outside world. Deal with it, either by ensuring that you're able to cover the cost of a loss yourself, or by finding an insurer who covers you for the true risk level. I'm guessing there aren't many of those around...

[Shebeen]

I'm sorry that I was one of the 'DETRACTORS/HATERS' who derailed this, but

 

- I can't take an insurance company who is careless with spelling/grammar etc seriously. You give me ZERO confidence in trusting that you will take any care over my policy when it comes to fine print/details. The final post seems to have been written by a committee (we/our, Good morning but posted in the afternoon) yet still is riddled with errors. Maybe you are *** with spelling, but you surely can't be that layzee. [i wrote that last sentence to see if the in-line spell check is working, and yip there are red lines in it wherever applicable].

 

I hope that you never find yourself in a hijack situation especially if you have people you care about with you and they find themselves at the wrong end of the attackers gun, knife or worse.

DON'T try tug at the emotional heartstrings and expect to get taken seriously. Why even play that card?

 

So apart from the original post (which by your own admission could have just been written by anyone with the ability to use the search function) you actually haven't added much yet. BUT since you obviously do have lots of data and trends that would be useful and people are engaging on it there's no reason to run away.

[Capricorn]

shebeen: the niggling feeling I have is that the impression was created that sufficient data has been collected showing not only correlation, but causality. But i-cycle's sudden departure suggest it was all just an impression and nothing of substance. We are more than likely aware that bicycle related crime is on a very steep increase, but for once, it would be nice to get a glimpse of the perspective on the causes. All those interviews and insurance claim investigations must surely have yielded some interesting correlations.

 

Tumbleweed's question is also of great interest: if there's correlation and causality, why are there no more arrests? I'm sure the insurance industry will have an interesting opinion on that as well.

 

 

But then the guy sods off. Disappointing to say the least.

 

edit: fixed spelling

[Harryn]

Who underwrites I-cycle's policies?

[I-cycle]

shebeen: the niggling feeling I have is that the impression was created that sufficient data has been collected showing not only correlation, but casuality. But i-cycle's sudden departure suggest it was all just an impression and nothing of substance. We are more than likely aware that bicycle related crime is on a very steep increase, but for once, it would be nice to get a glimpse of the perspective on the causes. All those interviews and insurance claim investigations must surely have yielded some interesting correlations.

 

Tumbleweed's question is also of great interest: if there's correlation and causality, why are there no more arrests? I'm sure the insurance industry will have an interesting opinion on that as well.

 

 

But then the guy sods off. Disappointing to say the least.

 

Hi

 

We are more than willing to share information and stats but by the continual attack on our posts makes it very difficult to answer in a manner which would be constructive.

 

We also don't want to be seen as looking for business.

 

We afraid we possibly made an error in trying to engage on this platform.

 

 

 

 

[Danger Dassie]

Robust questions are an attack?

 

Not at all, it's constructive debate. Or what were you expecting.

[I-cycle]

I'm sorry that I was one of the 'DETRACTORS/HATERS' who derailed this, but

 

- I can't take an insurance company who is careless with spelling/grammar etc seriously. You give me ZERO confidence in trusting that you will take any care over my policy when it comes to fine print/details. The final post seems to have been written by a committee (we/our, Good morning but posted in the afternoon) yet still is riddled with errors. Maybe you are *** with spelling, but you surely can't be that layzee. [i wrote that last sentence to see if the in-line spell check is working, and yip there are red lines in it wherever applicable].

 

 

DON'T try tug at the emotional heartstrings and expect to get taken seriously. Why even play that card?

 

So apart from the original post (which by your own admission could have just been written by anyone with the ability to use the search function) you actually haven't added much yet. BUT since you obviously do have lots of data and trends that would be useful and people are engaging on it there's no reason to run away.

 

Dear Shebeen

 

Point taken.

 

As much as we appreciate your input. The intention is not to run away.

 

Maybe the spelling and grammar is not of the standard you are accustomed to but in all sincerity the intention was a good one.

 

We apologies if you have offended you in any way.

 

If you have a suggestion in which we can deliver our message in a manner which will be constructive we are more than happy to engage with you on this. I am happy to even discuss via telephone if your intention is genuinely constructive and meaningful.

 

Our numbers and my personal email is available should you need them.

 

Regards

 

Sean Botha

[I-cycle]

Who underwrites I-cycle's policies?

 

Good day

 

Our underwriter is Genric Insurance Limited

 

Regards

 

Sean Botha

[Capricorn]

Hi

 

We are more than willing to share information and stats but by the continual attack on our posts makes it very difficult to answer in a manner which would be constructive.

 

We also don't want to be seen as looking for business.

 

We afraid we possibly made an error in trying to engage on this platform.

 

Well, I'm sure you have your detractors offline as well. That shouldn't stop you from engaging with those showing an interest. So could you stop dancing around the question, and maybe give those who are interested, some insights into these crimes with the stats you can share with us?

[Harryn]

 

Good day

 

Our underwriter is Genric Insurance Limited

 

Regards

 

Sean Botha

Many thanks.

 

I have a Basso Astra, with Super Red, and The full Microtech kit, bars and wheels. I also have a trek carbon tct 5000' with Ultegra. On the Basso I am running Michilen Pro Race 4's, and GP 4000's on the trek, which has the standard Bontrager wheels, plus i interchangeably use a set of Easton EA70's.

 

On the mtb side I have a 2011 Trek Fuel EX 9 and a cheapie Trek hardtail 3700. All the bikes are fitted with Polar speed and cadence sensors and brackets. The soft tail is tubeless, but not the hard tail.

 

 

Would it be possible for you to give me a rough estimate of what my monthly premiums would be for these bikes.

Thanks

 

[I-cycle]

Many thanks.

 

I have a Basso Astra, with Super Red, and The full Microtech kit, bars and wheels. I also have a trek carbon tct 5000' with Ultegra. On the Basso I am running Michilen Pro Race 4's, and GP 4000's on the trek, which has the standard Bontrager wheels, plus i interchangeably use a set of Easton EA70's.

 

On the mtb side I have a 2011 Trek Fuel EX 9 and a cheapie Trek hardtail 3700. All the bikes are fitted with Polar speed and cadence sensors and brackets. The soft tail is tubeless, but not the hard tail.

 

 

Would it be possible for you to give me a rough estimate of what my monthly premiums would be for these bikes.

Thanks

 

I will need to refer you to a broker however i can send you a quote in the interim.

 

I will email you a quote.

 

Can you send me your email address to sean@policyprovider.co.za so I can email direct to you and i will cc a broker in your area if you just let me know what area you in

 

Regards

 

Sean

[doppelganger]

yup, but I let plenty slide. In this instance it looks really bad as we all know you need to check your policy with a fine tooth comb before signing it. You'd expect the guys on the other side of the fence to be just a little bit meticulous (I know he was giving a post on a webpage but the attitude is the same).

 

but ja, there is a still a error in that sentence. I'm guessing that the OP is looking for more business(I'm fine with that) with this thread, but on a back foot with me just on that.

 

 

Jeepers, you sir, need a mirror.

[Harryn]

 

I will need to refer you to a broker however i can send you a quote in the interim.

 

I will email you a quote.

 

Can you send me your email address to sean@policyprovider.co.za so I can email direct to you and i will cc a broker in your area if you just let me know what area you in

 

Regards

 

Sean

 

Will do

[FlashJordan]

yup, but I let plenty slide. In this instance it looks really bad as we all know you need to check your policy with a fine tooth comb before signing it. You'd expect the guys on the other side of the fence to be just a little bit meticulous (I know he was giving a post on a webpage but the attitude is the same).

 

but ja, there is a still a error in that sentence. I'm guessing that the OP is looking for more business(I'm fine with that) with this thread, but on a back foot with me just on that.

still aN error

[Nayr]

Hi

 

We are more than willing to share information and stats but by the continual attack on our posts makes it very difficult to answer in a manner which would be constructive.

 

We also don't want to be seen as looking for business.

 

We afraid we possibly made an error in trying to engage on this platform.

 

I think this is the exact platform you should be engaging on/with, this is the platform that will most probably give you the widest spread of indicative data and representation as to who your audience/client base, actually is. I think the ideas on here will serve you, as the service provider, well. Your information has been highly informative, some folk, like me, will take it as it stands. Others will want more data and facts backing up the information. I think this is a fair request and would apply in any thread where there are claims (excuse the pun) made. I can assure you it is not just an attack on you as an insurer. I know you mentioned you are not soliciting business and I do believe that, however you may just have a bucket load of new customers at your disposal...So don't take offense just give the good folk the answers they seek if you can and/or are able to.

 

And... I wouldn't take much notice of the grammar police on this particular thread as it is kind of like a corrupt metro cop - they know and understand the law, but don't quite uphold it my 2c

['Dale]

Cool for staying in the chat, Opening Poster.

 

There'll be some scrutiny here.

Some contributors play the player and not the ball.

 

That's social media.