Insurtech Zego partners with French insurer La Parisienne for European expansion
London-based insurtech Zego, a provider of pay-as-you-go insurance for drivers and riders who work flexibly with their own vehicles, has partnered with France-based La Parisienne Assurances (LPA) to expand its services across Europe.
La Parisienne is said to be the oldest independent insurance company in France.
The partnership is the first of Zego’s Europe-wide managing general agent (MGA) relationships. It will enable the start-up to provide flexible delivery, fleet and private hire insurance to customers in Western Europe.
Zego was started by former Deliveroo managers in 2016. In November 2017, the company raised £6 million in Series A funding led by Balderton Capital. Its first product for car drivers was fully underwritten by Aviva.
Sten Saar, chief executive of Zego, said: “In a short space of time we have already built a strong foothold in the UK and Ireland, providing flexible insurance for thousands of self-employed workers, entrepreneurs and small businesses. This partnership will enable us to build on growth to date and accelerate expansion across Europe.”
Olivier Jaillon, executive chairman and CEO of LPA, said: “I am extremely proud of this ambitious partnership, which emphasises the ability of La Parisienne Assurances to support innovative products that fit the expectations of a changing world.”
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