Launched in 2016, Zego is the UK’s first insurtech unicorn – a privately held start-up with a value of over $1 billion. Zego has established itself as a leading insurtech with its novel use of telematics and application of behavioural data to save fleet managers time and money. Usage based and flat rate policies will be available to trades and haulage fleets in the UK containing between five and 500 vehicles via direct sales and brokers. Quotes can be received quickly and fleets powered by Zego will have access to the fleet portal – which allows fleet managers to add and remove drivers with the push of a button, easily monitor claims and receive around the clock, actionable insights, which if engaged with, can dramatically reduce premiums at renewal.
The collaboration brings a fair and flexible approach to fleet insurance that can adapt to customers’ changing needs. Usage-based policies, where insurance is only paid whilst a vehicle is in use, have been a lifeline to many fleets throughout the pandemic, many of which experienced drastic changes to workload throughout lockdowns. Flat rate policies offer a consistent monthly cost and, like usage-based policies, include access to the innovative fleet portal. Both policies offer time-saving functions and the ability to dramatically reduce premiums at renewal if the behaviour led advisories are followed.
Commenting on the partnership, Sten Saar, CEO at Zego, said, “It’s a privilege to be teaming up with Aviva, a company with so much heritage in the insurance industry. We are excited to bring our experience of insuring hundreds of fleets across tens of thousands of miles on a weekly basis. We believe this usage-based, data-led approach is the future of the insurance market and we are proud to be leading the way by partnering with Aviva to deliver this to trades and haulage customers.”
Maria Crockart, Digital Trading and Automation Director at Aviva, added, “Our partnership with Zego is a great example of how innovation can drive customer centricity, broker solutions and growth. Working with Zego builds on our telematics knowledge with a partner who has a proven track record using data and analytics. We look forward to developing tailored propositions aligned to customer usage and we anticipate that the relationship will broaden to include other insurance products in the future.”
Source: Automotive World
