The partnership between Brite and Zego means that businesses, university campuses and delivery services that use its fleet of e-vehicles will be automatically insured, as Brite becomes the first micromobility company in Ireland to provide full coverage to its riders.
The partnership with Zego will see Brite share trip data, which will enable the insurtech to price its insurance based on usage. The flexibility in Zego’s product also stands to have a positive impact on Brite’s cash flow, reducing large upfront costs and freeing up funds which can then be channelled into growth, expansion, and further product development.
Brite launched in 2019, offering zero-carbon shared vehicles to businesses, delivery services and university campuses in select cities across the Republic of Ireland and Northern Ireland. The company plans to expand its multi-modal fleet this year following the Irish Government’s announcement to draft legislation on e-scooter and e-bike regulation. Brite has been in contact with Irish local and national Government offering its support on this legislation, with a call for minimum safety standards, such as comprehensive insurance for riders, which Brite now provides with its B2B offering.
Zego, founded in 2016, specializes in usage-based insurance for fleets, tailored for businesses, priced on how the fleet is actually used, not guess work. This includes courier fleets, private hire and new mobility operators. The company currently dominates the kick scooter insurance market in the UK, and has a strong presence in the Irish market through partnerships with its ride-hailing firms. The company recently became the first UK insurtech to obtain a European broking license, helping it to grow in EU territories.
“The team at Zego has helped us address key safety concerns around our network connected e-scooters, e-bikes and e-mopeds which has allowed us to focus on running our business and achieving our goals,” said Colin Barry, CEO and founder of Brite Mobility.
“We’re big believers that adopting micro mobility services will help corporations, governments, and others not only achieve their carbon emission goals but also move their people around in a safe and efficient manner, without having to deal with traffic and the costs associated with parking cars and vans in our cities,” he added.
“Micromobility has become a hot topic as businesses and consumers around the globe shift their focus to reducing carbon emissions and making more sustainable choices.
“It is companies like Brite that are going to help our cities become far more sustainable over time, particularly in Ireland. At Zego, we are pleased to be aligned with these types of businesses, and are looking forward to a long-lasting relationship with Brite,” commented Ines Feracci, director of B2B at Zego.
Source: Insurance Journal
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