Over 100,000 GPS trackers and improved customer loyalty

Approximately 234,000 bicycle thefts were reported to the police in Germany in 2021 – and the number is probably much higher with the unreported cases. And while fewer bicycles are being stolen, the damage almost doubled from €440 to €860. More and more expensive bicycles, such as e-bikes, are being stolen.

Our GPS tracking solution is a game-changer when it comes to bicycle theft

Safeguarding valuable investments in a better way? That’s why IoT Venture was founded. We developed our GPS tracker under the brand name IT’S MY BIKE, and now more than 100,000 cyclists are benefiting from it. The app offers customers of bicycle manufacturers and retailers three central services:

• Recovery in the event of theft
• Insurance coverage with discounted rates
• Accident assistance for quick help

In the event of theft, a bicycle or e-bike can be easily located using GPS, cellular communications, and relevant contextual information from the data points. The tracker, developed by IoT Venture in Germany, is permanently concealed in the engine compartment and networked with the Internet. The user receives a notification as soon as the bike is moved. The user can contact the Bike Hunter team from IT’S MY BIKE via the app, and we offer support in reporting the theft to the police. Thanks to the GPS tracking process developed by IoT Venture, the e-bike can be located. In 75% of cases, the e-bike can be found and returned to the owner. Several user stories prove how well the recovery works in Germany and across national borders.

Added benefit of less expensive insurance offers

With our tracking solution, bicycle owners can choose from three different insurance packages with IT’S MY BIKE. The packages offered with our solution are significantly cheaper than policies for non-tracked bikes. They apply, for example, in case of damage or the e-bike battery has been stolen. Depending on the insurance policy, it will even reimburse the full replacement value of the e-bike if it cannot be recovered. 

Digital assistant detects accident

Another helpful feature is the digital accident assistant integrated into the IT’S MY BIKE GPS tracker. This crash solution, which has been tested and certified by DEKRA, measures the angle of the bike and reliably detects a fall. The app then prompts the bike owner to confirm that they are okay. If he does not confirm this, the system notifies the private emergency contacts stored by the cyclist via SMS. Your location is also transmitted so that your emergency contacts can initiate further measures if necessary.

Using data signatures to recommend a more suitable bike to the customer

The GPS tracker can be installed as a standard production process. You benefit from an all-in-one IoT Venture offer from a single source: IT’S MY BIKE supplies the GPS tracker, the app and the required software solution. In addition, we provide technical support, targeted data evaluation and analysis. Data collection is always in compliance with the European General Data Protection Regulation (GDPR). 

Thanks to our white label solution, bike owners with GPS tracking will directly associate the significantly improved user experience with the manufacturer. The enhanced brand equity with the customer is tremendous – and the extra services can also be key selling points. 

Manufacturers can also leverage the data obtained via the IoT Venture solution to provide added value to their customers. With movement pattern data, our partners can determine whether a customer would be better suited to another type of bicycle or e-bike. Accessory consultations can also be much more tailored to the customer’s needs. And last but not least, manufacturers can use data to identify trends for more targeted product development. 

Overall, IT’S MY BIKE demonstrates the promise and benefits of IoT. With our data signatures, you can predict the next customer, the next product, and the next price.