Estonian insurtech Cachet intends to start operating on the Polish market soon. At the beginning, the company wants to offer Polish customers motor insurance designed for Uber, Bolt or Free Now drivers. The startup hopes that the entry into force of the so-called Lex Uber, i.e. a regulation imposing greater obligations on previously unlicensed drivers involved in passenger transport, may contribute to increasing interest in its offer.

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Cachet sells insurance in the Pay As You Drive model. Its offer is addressed to drivers of Uber platforms, offering them the option of calculating the premium only for the time when they drive commercially. The driver declares how many hours a week he spends behind the wheel as a carrier, and then gives insurtech access to the sharing platform data, on the basis of which the adequate protection rate is calculated. Insurance is available on a monthly subscription model. For now, drivers from Estonia and Latvia can use the insurtech offer.

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As I learned from Hedi Mardisoo, the president and co-founder of Cachet, the insurtech is currently at the stage of talks with Polish insurers, among which it is looking for a cooperation partner. On the Estonian market, Cachet sells protection provided by BTA, a company from the Vienna Insurance Group, also operating in Poland.

In further plans, the company wants to expand the offer of targeted insurance to representatives of the so-called gig economy, i.e. people undertaking individual projects and orders.