Press kit

Cachet enters the French market alongside Baloise LU, delivering adaptive insurance infrastructure for Turo as the peer-to-peer car-sharing leader accelerates growth across its French operation

Cachet, the leading InsurTech for new mobility, has partnered with Baloise LU to deliver adaptive insurance for Turo’s peer-to-peer car-sharing platform in France. Equipping the market’s leading operator with a new risk infrastructure as it scales.

A New Step In Cachet Expansion in Europe

The partnership marks Cachet’s entry into the French market — one of Europe’s largest shared mobility economies, valued at approximately €4.2 billion and growing at over 13% annually. France becomes Cachet’s 11th European market to date.

For Baloise LU, the partnership reinforces its ambition to support innovative business models across the EU, while contributing to the evolution of the insurance landscape in shared mobility. Backing Turo with underwriting capacity and risk expertise as the platform accelerates its next phase of growth.

Hedi Mardisoo, CEO and Co-Founder of Cachet, said:

“Partnering with Turo in France, with the backing of Baloise LU, is a defining moment for Cachet. France is one of Europe’s most important shared mobility markets, and entering it as our 11th territory shows the momentum behind adaptive insurance. Our technology doesn’t just price risk, it actively controls it, giving platforms like Turo the infrastructure to prevent loss.”

A Key Partnership to Enable Turo’s Growth in France

Cachet’s platform delivers insurance that adapts in real time to usage patterns — combining flexible, trip-level coverage with integrated risk management and loss prevention tools. Paired with Baloise’s underwriting strength and carrier-grade capacity, the partnership gives Turo a fully embedded insurance infrastructure built specifically for peer-to-peer car sharing at scale.

Antoine Lacharmoise, Managing Director France at Turo, said:

“Insurance is foundational to the trust that makes peer-to-peer car sharing work. As our business in France accelerates, the adaptive model we’ve built with Cachet and Baloise LU gives us coverage that evolves with our volume — improving safety outcomes and enabling us to scale with confidence.”

David Destappes, Chief Operating and Commercial Officer and member of the Executive Committee at Baloise Luxembourg, said:

“Turo’s growth in France represents exactly the kind of platform-scale opportunity where our underwriting capabilities and Cachet’s technology create the most value. This partnership extends our commitment to enabling the next generation of mobility and we see a significant runway ahead together with Cachet as shared mobility rapidly expands across Europe.”

About Cachet

Cachet is an InsurTech company that designs better insurance for people and companies in the European platform economy. Their technology manages and embeds insurance, aggregates gig work and asset usage data, providing vastly improved insurance cover to both users and platforms. Now active in 11 European markets, Cachet serves leading platform operators across car sharing, micromobility, and gig work. Founded in 2018 by Hedi Mardisoo and Kalle Palling, the company is licensed to operate across Europe.

Europe’s Streets Are Being Rewired

The numbers tell a clear story. Europe’s micromobility market is projected to exceed €16.5 billion by 2030, driven by sustainability goals, efforts to ease congestion in city centres, and a generation of commuters who have stopped thinking of the car as a default. Shared mobility becomes an embedded urban transport infrastructure from Helsinki to Lisbon

But growth at this scale exposes a structural tension that every serious operator understands. The vehicles are there. The demand is there. What hasn’t kept pace is the operational backbone, and nowhere is that gap more visible than in insurance.

What Rapid Expansion Actually Costs

For fleet operators, the economics of micromobility in Europe are shifting. Adding 500 bikes or e-scooters to a new city is an inherent problem of the market. Traditional insurance models — built on static annual policies and manual fleet declarations — were never designed for assets that move, depreciate, and redeploy at the pace shared mobility demands.

The result is predictable: overpayment on inactive assets, coverage gaps during re-fleeting, and claims processes that drag weeks beyond the incident itself. For operators managing fleets across multiple European markets, each with its own regulatory requirements, the administrative load compounds fast.

This isn’t a minor inefficiency. For most micromobility operators, insurance is the second line on the P&L after vehicle acquisition. Mismanaging it limits how fast and how confidently an operator can scale.

The Operators Pulling Ahead Are Building Smarter Infrastructure

The most competitive operators in European shared mobility have recognised that insurance is a lever. Those integrating adaptive insurance into their operations are gaining advantages that compound over time.

Adaptive insurance connects fleet data directly to coverage decisions. Vehicles are insured when active, not when a policy document says they should be. Claims feed back into risk models in real time. Pricing reflects actual usage patterns rather than broad actuarial assumptions about an asset class insurers still largely misunderstand.

For operators scaling across borders, this matters even more. A micromobility platform expanding from Germany into Poland or Spain doesn’t need a new insurance relationship in each market — it needs a platform built to handle that complexity natively. Along with a partner with the service expertise of supporting scaling digital platforms. The right insurance infrastructure becomes a growth enabler, not a growth bottleneck.

Cachet’s adaptive insurance platform is designed precisely for this reality. It connects fleet data, usage, and insurance policy management in a single environment — giving operators visibility and control over what is typically their least-understood cost centre. Whether managing bike fleets in Amsterdam or e-scooter corridors in Madrid, operators get coverage that scales with them rather than against them.

The Operators Who Move First Set the Standard

The micromobility market in Europe is entering a consolidation phase. Smaller operators without the infrastructure to compete on cost efficiency will exit. Those with data-connected operations — where every fleet decision, every claim, every risk signal is captured and acted on — will be the ones left standing, and expanding.

Insurance has historically been where operators lose control. It doesn’t have to be. Partners like Bolt, Voi, and leading car-sharing platforms across Europe have already demonstrated what is possible when adaptive insurance is built into the operating model from the start: lower loss ratios, faster claims resolution, and premiums that reflect performance rather than assumptions.

The infrastructure to operate smarter shared mobility already exists. The question is whether your operation is built to take advantage of it.

The world of insurance is rapidly evolving, moving away from one-size-fits-all policies toward smarter, data-driven models.  Risk no longer has to be shared amongst the insured individuals, but can be tailored to your own use-age or behaviour over time.

One such innovation is Distance Based Adaptive Insurance, a dynamic approach that aligns premiums more closely with how much your fleet is actually on the road. As technology, mobility patterns, and risk assessment methods change, this model is becoming increasingly relevant for operators.

What Is Distance Based Adaptive Insurance?

Distance-Based Insurance is a type of adaptive insurance where premiums are calculated on the basis of how many kilometres your drivers are on the road. Or, in the case of shared mobility assets, how many minutes of trips your assets rack up through their usage in a month. Unlike traditional insurance, which relies heavily on static factors, this model adjusts pricing based on periodically recorded data.

Distance-based insurance operates on a basic principle — your premiums should reflect your real world behaviour. 

How Does Distance Based Adaptive Insurance Work?

Distance-based adaptive insurance usually operates through one of these methods:

1. Telematics Devices – A small device installed in the vehicle records mileage and driving behaviour. Transmitting in real time.
2. Mobile App Tracking – A driver’s smartphone that tracks distance via GPS.
3. Reported Vehicle Data – Some modern cars can share data directly with insurers.

Based on the collected data, insurers calculate premiums using a combination of:

• Base insurance cost, which is the minimum coverage fee
• Per-kilometre coverage rate

For example, a person who drives 5,000 km per year may pay significantly less than someone who drives 20,000 km annually.

Why Is Distance Based Insurance Becoming Popular?

Several factors are driving the adoption of this model for mobility operators:

1. Fairer Pricing

Traditional insurance penalises low-mileage drivers by charging them rates similar to those charged to high-mileage drivers. Distance-based insurance corrects this imbalance, making pricing more equitable.

2. Supports Sustainability

By financially rewarding less kilometre travelled and better route optimisation, this model indirectly promotes reduced fuel consumption and lower carbon emissions, thus aligning with global sustainability goals.

3. Ideal for Car-Sharing Model 

For car sharing operators, distance based insurance enables their operations to scale better. By dynamically associating coverage to on-road assets. Not locking them into paying for de-fleeted or under-used heretical. Trip based pricing ensures a fairer set of premiums that  align to their unit economics. 

4. Adapted to Seasonality

With dynamic pricing based on kilometres, distance based insurance supports your operations during a low activity period. If you observe less activity during winter, the dynamic pricing model can ensure your operations margin stays high to support your company’s sustainability.

Challenges and Concerns of Distance Based Adaptive Insurance

While promising, this model does come with some concerns:

1. Privacy Issues

Many platforms worry about insurers tracking their movements. Transparency between insurer and companies on data ensures GDPR respect and compliance. 

2. Technology Reliability

GPS glitches, app malfunctions, or device failures could lead to inaccurate mileage recording.

3. Not Suitable for All Operators

Companies with a fleet on the road all day may end up paying more than they do with traditional insurance.

Traditional Insurance vs. Distance Based Adaptive Insurance

Unlike traditional insurance, which relies on a fixed annual premium based on generalised risk factors, distance-based adaptive insurance uses a variable pricing model that changes according to how much your drivers are on the road.. 

Traditional insurance assesses risk broadly using factors such as age, location, and past claims history, whereas distance-based insurance offers a more personalised assessment based on real driving data. 

While conventional policies give operators limited control over their premiums, the distance-based model allows policyholders to influence their costs by optimising around trip volume. 

Traditional insurance requires little to no technology, whereas distance-based insurance depends heavily on accurate usage data. As a result, traditional insurance is better suited for regular or high-mileage fleets, while distance-based adaptive insurance is more beneficial for low-mileage fleets or platforms that have peak seasons followed by months with reduced trip volume.

FAQs

1. What exactly is distance based adaptive insurance?

Distance-based adaptive insurance is a usage-based insurance model where your premium depends largely on how many kilometres you drive. Instead of paying a fixed annual amount, you pay a base rate plus a variable cost based on your actual driving distance.

2. How is my driving distance tracked?

Insurers typically track mileage through a telematics device installed in your car, a mobile app using GPS, or built-in vehicle data systems. The technology records only the necessary data required to calculate your premium.

3. Is my company data safe with distance based insurance?

Insurers use encryption, secure servers, and strict access controls to ensure GDPR compliance and guarantee your fleet data safety. 

4. Does distance based insurance monitor my driving behaviour, too?

Some policies only track distance, while others may also monitor speed, braking patterns, and time of travel. Behaviour-based tracking can sometimes lower your premium further if you demonstrate safe driving habits.