Zego partnered with energy giant bp to provide drivers with its professional insurance as part of bp’s all-inclusive electric vehicle subscription service trial – bp EV Pro to encourage electrification in the mobility industry amid green push.
With financial backing from Swiss Re, the package is designed specifically for ride-hail drivers in London and aims to make it more appealing and convenient for drivers to opt for an electric vehicle by ensuring that they are covered by the correct insurance as soon as their vehicle is delivered, whilst significantly reducing their emissions.
The new EV pro package also includes access to bp’s charging network, bp pulse, as well as provides EV servicing and maintenance.
Given that cutting carbon emissions and limiting the fallout of climate change is the biggest challenge facing society, Swiss Re believes that this partnership will contribute to reaching the UK’s and the global net-zero ambitions. Its market head P&C UK & Ireland Simon Welton, said “Our vision is to make the world more resilient. Through our support of Zego, and by extension ride-hail drivers’ adoption of electric vehicles, we fulfil our vision of making the world more resilient by promoting safer roads and supporting the transition to a net-zero carbon economy.”
Founded in 2016, Zego recently raised $150m in a Series C funding round, making it the UK’s first InsurTech unicorn. The commercial motor insurance company powers opportunities for businesses, from entire fleets of vehicles to self-employed drivers and riders. It offers a range of cover options from flexible pay-as-you-go insurance to annual policies, and so far, has provided more than 17 million insurance policies and covered more than 200,000 vehicles in five countries.
Zego CEO Sten Saar added, “The electric vehicle market will have a huge role to play in the UK reaching its net-zero target by 2050 and we are already seeing businesses across the country adopt EV fleets to reduce carbon emissions.
“With our flexible, usage-based insurance product, we are supporting bp’s trial, by providing affordable solutions to ride-hailing drivers. This partnership is a huge milestone for Zego and we look forward to building a lasting relationship with bp.”
Echoing a similar sentiment bp global fleet director Deepshikha Vasishtastated, “bp EV Pro offers a driver everything they need to run their business in one easy weekly payment. It includes a brand new PHV licensed electric vehicle car, charging from the bp pulse network, PCO insurance, comprehensive servicing including maintenance and breakdown cover. We partner with Zego given their flexible approach to insurance, especially in the ride hail market.”
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