VOOM Launches Electric Bike Insurance

Core Insights - VOOM Insurance has launched a new insurance product specifically for Electric Bikes, expanding its innovative motorcycle insurance offerings [1][2] - The new e-bike insurance provides flexible and comprehensive coverage, including liability protection, physical damage coverage, medical payments, and theft protection [2][3] Company Overview - VOOM is recognized as a leading InsurTech company focused on the future of mobility, with a mission to provide top-tier insurance products [3][4] - The company has issued over 100,000 policies to date, showcasing its expertise in various mobility segments, including e-bikes, motorcycles, and rideshare insurance [4] Market Trends - The cycling community in the U.S. has seen significant growth, with 54.7 million Americans riding bicycles in 2022, up from 51.4 million in 2021 [3] - E-bike sales have surged, with 1.1 million units sold in 2022, nearly quadrupling sales from 2019, indicating a strong demand for e-bikes as a sustainable transportation option [3]