Bikmo is committing £10 million per year to local bike shops by 2023.
It joins a community of over 240 certified B Corps in the UK and over 3,000 worldwide. Bikmo says it is the first cycle insurer to certify, and other outdoor sports industry B Corps include Patagonia, Burton, Finisterre and Beryl.
IBDs are encouraged to register as a partner with Bikmo to become part of their claims network, benefit from free insurance offers and other benefits.
David George, founder and CEO of Bikmo, said: “We’re delighted to have certified as a B Corp and join respected brands who are putting people and planet on the same level as profit.
“Our biggest impact has always been in protecting riders and supporting local bike communities so we’re proud that B Corp recognises this commitment alongside our investment into the team and being a better business.
“Our £10 million commitment to UK local bike shops is only one part of our strategy to support local the UK cycling communities that form a huge part of the lives of cyclists across the UK. Though we are only one of two B Corps in the UK cycle sector, we hope our actions will encourage more businesses to follow suit.”
Kate Sandle, director of programmes and engagement of B Lab UK, added: “We are delighted to welcome Bikmo to the B Corp community. Business is a powerful force, and the B Corp movement demonstrates that it can be a force for good. This is a movement of companies who are committed to changing how business operates regardless of their size or industry.
“Welcoming Bikmo is a particularly exciting moment because we’ve seen that the insurance industry is in particular need of a shakeup. We are really pleased to support Bikmo, who demonstrate that insurance can be done differently.”