Ride together,
earn rewards.

Go beyond traditional insurance and join a movement of game changing riders. BMIC is a digital-first insurance network designed to give riders more financial control, rewards and freedom.

We want to filter through,
the stuff that slows you down

The power of the
community jar

Your premium goes into your communities jar to help each other get back on the road. Up to 20% of your premium keeps the network powered and protects the jar from very large claims. The lower the claims in the jar the higher the rewards.

Follow your money

With our app you’ll be able to see exactly where your premium goes and how it’s benefiting you and your fellow riders, without any hassle.

Claim rewards

You’ll get to use what’s left in the jar, be that to spend on partner offers like new winter gloves, donate to social or environmental causes, or just money off next year’s premium.

All powered,
by tech

Our algorithmic network connects you directly to fully regulated insurance services (skipping any go-betweens), so you and the community know where your money is at all times. 

BMIC is fully digital, which means we cut down on heavy or outdated processes that cost money, saving you time and effort. No more customer service queues and grating hold music!

Our members will look out for one another for the good of the group. You’ll have the opportunity to receive rewards depending on the amount of claims made that year.

Discover stories
that move

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Meet the Sidecar guys

For riders
of all kinds

No matter who you are or what you ride. We’re here for it, and we’re here to help you get more of it.

Ready
  to ride? 

The more riders that join, the greater the rewards. Sign up now to be the first in the know.

Got questions?

Here are some popular questions about the BMIC community.

The BMIC is a brand name of Babel Cover Limited, a British financial technology company. It is a network based technology that empowers community creators, through membership, to access a range of digital insurances.

It is a self-service technology that connects rider communities directly to an insurer – removing unnecessary intermediaries i.e. brokers and agents.

Our mission is to empower communities of motorcycle riders to have more control over their insurance. We do this by transparently connecting rider communities to regulated UK insurance partners.

In a typical motorcycle insurance transaction a rider will (more often than not) acquire insurance via a comparison website. However, most are insurance brokers (acting on behalf of the rider or rider community) and managing general agents (acting on behalf of the insurance company) both actors are not actual insurance companies.

By joining or forming a BMIC motorcycle insurance community we remove these unnecessary costs through digitisation.

Due to the large number of insured riders in the UK (according to MAG as of 2021 this is 1.3m licensed motorcycles) the predictability of the cost of the claims is quite accurate.

The BMIC sets the % of claims expected to be paid out by a community (depending on the type of bike, the rider profile and location) in any one year. A portion of the premium is set aside in the community jar. This includes fees currently paid by the rider to a broker or agent to access the insurer.

These funds are protected and set aside by our regulated insurance partner. If at the end of the period of insurance the claims paid by the community are lower (due to safer riding) the amount in the jar is made available to the community to use as they agree i.e. the generation of insurance credits.

The community jar is a legally segregated bank account held by our regulated insurance partner to pay for predictable claims. A % of premium collected is saved in the jar.

On activation – depending on the risk characteristics of the rider community – an estimation of the amount of statistically predictable claims will be set aside in the community jar.

If this amount is lower at the end of the policy period insurance credits are made available to the riders. See rewards partners for further details.

If the amount is higher then unfortunately there are no credits. Our insurance partner pays the difference.

This is a new and innovative approach to align the interests between riders and insurers and bring greater transparency.  

The network activation is dependent on volumes. This is because our insurance partner is liable for large claims, or claims if the community jar is empty.

While we keep ourselves busy finding a lead partner sign up or follow our progress via our social media channels.

We’re
shifting gears

Insurance communities go live soon, register your interest to be the first to know.