Booming Scooter Service Challenges Risk Management Conventions

From a start of effectively zero in 2017, there were more than a million scooter rides in 2018, noted Jillian Slyfield, digital economy practice leader at Aon.

“That trajectory has not slowed. There was a turn a few months ago where more than half of new scooter rides are outside the U.S.”

Demographic, technological and cultural trends have combined to make urban mobility, or micro-mobility, one of the fastest growing new segments of the transport sector worldwide.

That is driving emerging risks in the sense of new insureds using new technology in a new business segment. The global bike rental market is expected to reach $4 billion by 2025, according to a February report by Hexa Research.

“Increasing penetration, easy access, attractive pricing, and support of local authorities are among the key driving factors driving the growth of bike rental services,” the report said. “Use of digital platforms by service providers is also expected to add to the growing adoption of rental services in the coming years.”