Zego, previously known as Tego, is a London-based on-demand insurance provider which is making insurance flexible and more accessible for customers, and to manage their own policies in a usage based fashion.
With a seed investment of over 1 million, Zego first developed a pay as you drive product for scooters. More recently it has expanded into commercial fleet insurance through an app that optimises premiums for workers in the ‘gig economy’ who do not work on a full time basis, and hence don’t require annual insurance.
Zego is leveraging the rise in usage based insurance policies and applying it to sectors of the economy that require flexible coverage such as the ‘gig economy’ and logistics
Currently, Zego is offering hourly cover for couriers and food delivery drivers and has future plans to diversify into other adjacent verticals where their usage based approach can also be applied. As with most InsurTechs, regulatory requirements need to be navigated, thus, policies sold through the Zego platform are currently being underwritten by Aviva, and Zego has already insured 400,000 hours of commercial work.
Ultimately, Zego is leveraging the rise in usage based insurance policies and applying it to sectors of the economy that require flexible coverage such as the ‘gig economy’ and logistics.
