Q&A with Rami Bakhar, Urban Ride Founder and CEO
What is Urban Ride’s Main activity?
Bakhar: We believe that every person needs a financial safety net to feel safe and protected when unexpected things happen. Especially when it comes to electric two-wheeler riders who are at risk for more accidents than car and pedestrian drivers. UR insurance allows every rider to protect themselves from financial harm and maintain a current income level appropriate to their lifestyle even in the event of injury and disability.
what are the main characteristics of the Electric bicycle riders?
Bakhar: Electric two-wheeler riders are mostly young people who live in major cities. The transition from a car to an electric two-wheeler saves a lot of headaches of costs (fuel / insurance / cost of the vehicle itself), the environmental benefit, search for parking and traffic jams that exist in cities. Among other things, many people switched from public transportation to riding, which saves time. During the Corona period the demand riders preferred single use over use of public transport and the demand for riding electric two-wheeler increased.
what are the risks they are facing?
Bakhar: All electric two-wheeler riders across the country have the dangers on roads and trails.
Among the dangers: potholes on the roads, sharp movements of cars that can cause an imbalance during the ride, injury of a vehicle that does not see the rider, injury of a rider to a pedestrian or property.
As a result of all of the above there is a danger to the rider himself that God forbid may break an arm or a leg, or worse, will become disabled or die, as a result of an accident that happened.
Regarding Thefts, there is a risk on the tool itself.
Does the insurance you provide cover all the risks?
Bakhar: Electric two-wheeler insurance covers on the one hand, the rider himself from a bodily injury (fractures/hospitalization/disability/death), and also covers a third party in case of injury and damage to body or property.
In addition, the insurance covers the theft of two-wheelers from the insured’s home only.
Unfortunately, there is no insurance yet that provides a solution for theft outside the home.
We are developing such insurance, that will be offered to the riders through a service reporter that will be issued during 2021 and will address theft outside the riders’ home.
How do you market and sell the policies?
Bakhar: Our marketing is currently carried out mainly through collaborations (WOLT/WE WORK/ Super Yoda/two-wheeler sales and repair stores and so on). In addition, we promote marketing through Facebook and Google.
The digital advantage of UR is that riders can fill in details in the questionnaire on the site and at the click of a button, within a few minutes, they are covered, as long as they have filled in correct and complete details. The insurance is sold only by a licensed agent.
Who are urban ride’s business partners?
Bakhar: Shops/Facilities/Social Communities of Two Wheels/Student Associations/Sites in the Fields of Electric Two Wheels
how do you plan to expand abroad?
Bakhar: We are working on the development of insurance per minute/ride for two-wheeler riders. This can be a great solution for riders who want to be on the safe side and purchase insurance for every ride.
What investments were made in the company so far?
Bakhar: The investments made in the company are mainly marketing investments in favor of videos, advertising costs, Improving the customer experience in purchasing digital insurance and website development.
tell me about your professional background and about other key figures in the company.
Bakhar: My name is Rami Bakhar, I am 34 years old, an authorized insurance and financial agent, with an experience of 10 years in the field of capital market and insurance. I have a wide portfolio of clients that I manage in front of financial institutional.
Urban Ride was established after I became independent agent and due to the understanding that the field of insurance is a field that must be delved into and focused on.
After a few months, I saw an electric bike rider who fell and broke his arm, as an insurance agent the first question that came to my mind was what compensation he would get. Following the incident, the thought of protecting the riders was born.
Amalia Amaiev is the company’s VP of marketing and co-creation with a wide experience in digital marketing.
Urban Ride works to promote safety among two-wheeler riders and has established a community called “Safe Riders”. Our main goal is raising awareness for safe driving with an emphasis on safety among riders. As an example, of increasing awareness among riders, UR gave free helmet to all of joined insured customers.