Bboxx, a data-driven super platform, in collaboration with Radiant Yacu Insurance, has launched an innovative insurance solution for electric motorbike (EV) riders in Rwanda.
Dubbed Bboxx Protect, this product provides thorough coverage at prices more than 40% lower than the market average, ensuring a sustainable green transition while addressing the country’s low insurance penetration rate.
The initiative, aimed at benefiting up to 130,000 motorbike riders, introduces a pay-as-you-go (PAYGo) insurance model powered by Bboxx’s smart data technology.
This approach provides riders with affordable access to a wide coverage that includes protection against material damage, fire, third-party liabilities, life insurance, and total permanent disability.
Traditionally underserved in the insurance market, motorbike riders in Rwanda have largely relied on basic third-party coverage.
Bboxx Protect changes this by offering a comprehensive insurance package focused on the needs of EV users. Riders can save up to 44% annually on insurance costs, freeing up resources for essential expenses like family welfare and household investments.
Speaking at the launch, Anthony Osijo, CEO of Bboxx, commented on the impact: “With the launch of Bboxx Protect, we are doubling down on our commitment to serving existing markets while making affordable, comprehensive insurance accessible to motorbike riders who have long been underserved.
“By reducing financial risk and offering greater security, we’re empowering thousands of customers to protect their livelihoods while contributing to a cleaner, more sustainable future.”
The product also incentivises the shift from internal combustion engine (ICE) bikes to electric vehicles (EVs), reducing carbon emissions and promoting sustainability. This aligns with Rwanda’s green agenda, giving riders the financial security needed to embrace EV technology with confidence.
Ovia K. Tuhairwe, CEO of Radiant Yacu Insurance, described the partnership as a necessary step toward transforming Rwanda’s insurance sector: “Through our strategic partnership with Bboxx, we are introducing a pioneering insurance solution that equips motorbike riders with the financial protection needed to confidently transition to electric vehicles.
“By offering affordable, comprehensive coverage tailored to EVs, we are not only enabling a safer and greener future, but also addressing Rwanda’s low insurance penetration. This collaboration will make insurance more accessible to underserved communities, promoting financial inclusion and driving long-term economic growth across the country.”
Bboxx Protect goes beyond traditional insurance by leveraging smart data monitoring to predict and mitigate road accident risks. This data-driven approach improves safety for riders and enhances risk management for insurers, setting a new standard for the industry.
The initial rollout of Bboxx Protect targets 1,500 motorbike riders, with plans to expand to the broader 130,000-strong motorbike community in Rwanda. If successful, the model could be scaled across other African markets, extending the benefits of comprehensive, affordable insurance and encouraging widespread EV adoption.
Rwanda’s insurance penetration rate, currently below 1%, is set to improve greatly with this initiative. In making insurance accessible to underserved communities, Bboxx and Radiant Yacu aim to enhance financial inclusion while facilitating economic development across the country.
