UK InsurTech startup Zego has formed a partnership with Broker Network and Compass Networks, helping it grow its presence in the broker market.
The deal helps Zego expand its presence in the broker market and offer its fleet insurance products to a greater pool of businesses. It will benefit from a community of more than 700 brokers, making up over 60% of the UK independent broking community.
Zego is an online fleet insurance provider that offer cover for private hire, courier, ride-hailing and micro mobility businesses. Customers pay a minimum base rate for the policy, with a flexible top-up premium which is based on how much the fleet’s vehicles are used. Regardless of how many miles are driven, the customers will never pay more than the agreed monthly cap.
The usage-based model helps businesses better manage their cashflow and have policies that match their risk.
Bravo Group managing director Jaime Swindle said, “Usage based insurance policies have been in existence for some time. Client needs are constantly evolving and the demand for flexible insurance for business motor customers has increased significantly with the current climate as these customers adapt to the ‘new normal’.
“At Bravo Group we want our Networks’ insurer relationships to allow our brokers to provide their clients with products that are reflective of today’s world, and the partnership with Zego offers a number of innovative solutions to meet these demands. We are already seeing members respond well to this new offering and I am excited to see this continue to thrive.”
Zego has formed a number of partnerships this year. It recently inked a deal to provide insurance cover to TIER as the European e-scooter operator gears up to launch in the UK. A similar deal this year saw Zego form an agreement with e-scooter company Ginger to support its trial in the UK.
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