Tyred launches AI-native insurance service

• Connected technology designed to support more accurate underwriting
• Behaviour-based pricing aims to deliver more personalised premiums
• Global micromobility insurance market projected to grow to $4.3 billion by 2034

British mobility tech startup Tyred is launching its own connected insurance service, utilising AI and IOT devices to transform how cyclists and micromobility fleets are assessed, protected and supported.

Most insurance companies currently base quotes on static information such as a rider’s postcode but this new service will take data from connected IoT devices embedded in vehicles to provide accurate, real-time understanding of how they are used, stored and maintained.

This connected device will be provided with each eligible policy, generating first-party information that can support underwriting, identify potential risks and provide evidence when an incident occurs.

Cyclists who ride responsibly, secure their bicycle properly and keep it well maintained may benefit from more personalised pricing, subject to underwriting criteria, while Tyred gains a clearer understanding of the risk they are covering.

The same connected data is intended to support a more efficient claims experience. Rather than relying entirely on forms, retrospective accounts and manual investigation, Tyred will use device information and policy data to help validate incidents and automate appropriate parts of the claims process. All claims remain subject to the policy terms, conditions and assessment requirements.

Tyred’s insurance service, which is authorised and regulated by the Financial Conduct Authority, will be available to UK customers initially.

A growing market underserved by traditional insurance

Micromobility vehicles, including conventional bicycles, e-bikes, cargo bikes and e-scooters, are becoming an increasingly important part of urban transport but the insurance products serving the sector have not kept pace.

Less than 1 in 5 cyclists (18%) in the UK are estimated to have insurance, according to provider Cycleguard.

The global Micromobility Insurance market was valued at $1.8 billion in 2025 and is projected to grow to $4.3 billion by 2034. Europe represents around 26% of this market with unprecedented growth driven by the proliferation of shared electric scooter and e-bike services across urban centres as well as last-mile connectivity, with operator fleets expanding rapidly. Yet millions of riders rely on limited household-policy cover or carrying no specialist protection at all.

The market is also facing growing pressure from bicycle theft, more expensive e-bikes, battery risks and an expanding population of commercial and shared micromobility vehicles. At the same time, insurers often lack the first-party usage, security and maintenance information required to price these risks accurately.

Tyred’s tech-enabled service is intended to help address this information gap and encourage more users to take up personalised insurance, thereby increasing the value of the market.

Lancelot Hoare, co-founder and CEO of Tyred, said:

“Tyred is building insurance around the bike and the way it is used. By combining connected-device data with AI, we aim to identify risk earlier, price cover more accurately and make the claims experience faster.

“Our aim is simple: riders who look after their bikes should be recognised for it, while insurers should have the information they need to offer better cover at a sustainable price.”

Nikita Baranov, co-founder and COO of Tyred, said:

“The micromobility insurance market is already worth billions but it is still being served through processes and pricing models that were not designed for modern bicycles, e-bikes or connected fleets.

“This is particularly important for fleets, where connected information can provide a clearer picture of usage, maintenance and risk across hundreds or thousands of vehicles. Better data should mean fewer preventable problems, more accurate cover and improved fleet availability for the customer.”

Ownership platform

The insurance launch is part of Tyred’s wider ambition to create a connected platform for bicycle and micromobility ownership, bringing together preventative maintenance, mobile repairs and emergency support.

By bringing insurance, maintenance, repairs and connected-vehicle information into one digital experience, Tyred aims to reduce the cost and complexity of keeping bicycles and micromobility fleets safe, operational and protected.

Customers can register their interest in Tyred’s insurance service or find further information at: https://tyred.io/cycling-insurance.