Wakam UK partners with broker to launch new motorcycle insurance product

Digital insurer Wakam UK has partnered with specialist broker Principal Insurance to launch a new motorcycle insurance product.

The firms said that the new offering, announced yesterday (10 March 2026), would bring together Wakam’s “digital underwriting capability and operational agility” and Principal Insurance’s “motorcycle insurance experience, expertise and close ties to the rider community”.

Mark Christer, chief executive at Wakam UK, explained the multimillion pound partnership is aimed at bringing a greater range and availability of cover to the competitive market.

He said: “The UK motorcycle insurance market has, in recent years, undergone significant consolidation and tighter underwriting criteria, resulting in a small number of providers dominating distribution and pricing.

“For riders that has resulted in limited choice, rising premiums and difficulty securing appropriate cover, particularly for non-standard bikes and specialist rider segments.”

Loss of appetite

Dave Bowcock, founder and managing director at Principal Insurance, added: “Bikers have increasingly aired their frustrations that competition has been stifled, with fewer providers and a loss of market appetite resulting in the reduced availability of cover across both bike and rider profiles.

“There’s been a loss of flexibility and too few bespoke schemes which have impacted riders, whether they want to insure a scooter, sports, custom or multiple bikes.

“This collaboration with Wakam UK will tackle market weaknesses and reflects a broader shift towards expert-led partnerships as a way to address complexity in specialist insurance markets, where experience and judgement remain critical.”