British mobility tech startup Tyred has launched an AI-native, IoT-connected insurance service designed to offer behavior-based pricing and overhaul risk assessment for individual cyclists and micromobility fleets. Authorized by the FCA and initially rolling out in the UK, the platform aims to replace traditional, static underwriting metrics—such as rider postcodes—with real-time, first-party data.
Every eligible policyholder will receive a connected IoT device to embed in their vehicle. This hardware tracks how a bicycle, e-bike, or e-scooter is used, stored, and maintained. For riders and commercial fleet operators, responsible usage and secure storage can translate into personalized, lower premiums. For Tyred, the telemetry data validates incidents to automate parts of the claims process and accurately identify underwriting risks.
The launch targets a rapidly expanding but historically underserved sector of the mobility industry:
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Untapped Potential: Less than 18% of UK cyclists currently carry specialist insurance, often relying on limited household policies.
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Market Boom: The global micromobility insurance market, valued at $1.8 billion in 2025, is projected to surge to $4.3 billion by 2034.
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European Growth: Europe accounts for roughly 26% of this market, fueled by the rapid expansion of shared electric fleets and last-mile connectivity.
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Industry Pressures: Insurers are increasingly challenged by high-value e-bikes, battery risks, and rising theft, often without the granular data needed to price commercial and consumer cover accurately.
Lancelot Hoare, Tyred co-founder and CEO, noted that the service is built entirely around the bike and its real-world application. “By combining connected-device data with AI, we aim to identify risk earlier, price cover more accurately and make the claims experience faster,” Hoare said. “Riders who look after their bikes should be recognised for it.”
For commercial operators, this connected approach addresses significant logistical hurdles. Co-founder and COO Nikita Baranov highlighted that traditional pricing models were not designed for modern fleets, adding that better data will lead to fewer preventable problems, more accurate cover, and improved fleet availability.
The insurance offering is the first step in Tyred’s broader strategy to establish a comprehensive digital platform for micromobility ownership, eventually integrating preventative maintenance, mobile repairs, and emergency support into a single user experience.
