Bboxx has launched Bboxx Protect, an innovative insurance product designed for electric motorbike (EV) riders in Rwanda. Created in partnership with Radiant Yacu Insurance, Bboxx Protect provides affordable, comprehensive coverage using a data-driven Pay-As-You-Go (PAYGo) model, reducing premiums by over 40% compared to traditional insurance. This allows riders to save up to 44% annually and invest in other essential needs.
“With Bboxx Protect, we’re making insurance accessible to underserved motorbike riders while supporting a sustainable future,” said Anthony Osijo, CEO of Bboxx.
The product is designed to address Rwanda’s low insurance penetration, currently under 2%, and offers protection against material damage, fire, third-party liabilities, life insurance, and total permanent disability. Initially, the product will target 1,500 riders, with plans to expand to the 130,000 motorbike users in Rwanda.
Ovia K. Tuhairwe, CEO of Radiant Yacu Insurance, noted, “This collaboration not only improves financial inclusion but also supports Rwanda’s transition to electric vehicles, enabling a safer and greener future.”
Bboxx Protect also leverages smart data monitoring to predict and prevent road accidents, enhancing rider safety and improving risk management for insurers. The product could potentially be expanded to other African markets following its success in Rwanda.