Laka

Founded in 2017, Laka operates on a unique collective-based insurance model, primarily for cyclists. Instead of charging fixed upfront premiums, customers' monthly contributions are calculated based on the total cost of claims submitted by the entire collective in that month. This cost is capped at a personal maximum, ensuring members never pay more than the market rate. Laka's mission is to transform the insurance industry by creating a fairer, more transparent model where the company and its members have aligned interests—to reduce claims and keep the collective's costs down.