Zego ties up with telematics firm to scale flexible fleet insurance solutions

Insurtech Zego has partnered with telematics firm ABAX in a move intended to drive down the cost of insurance for fleet owners, and scale its flexible fleet insurance solutions.

The partnership will enable Zego to offer businesses a telematics solution together with usage-based insurance policy.

The telematics solution will allow fleet managers to track their vehicles and monitor driver behaviour, giving them valuable insight into the performance of the entire fleet. It will also help them to keep fully compliant tax records which prove that vehicles have only been used for business purposes, eliminating the threat of extra tax charges.

Zego was founded in 2016 and provides a range of flexible B2B insurance models for fleet businesses and new mobility services, such as car sharing and car leasing, including WeFlex, Splend and Drover. It currently insures a large portion of the UK’s delivery and ride-hailing workforce, partnering with companies including Uber and Deliveroo.

Dom McCormack, chief of staff, Zego said: “The partnership between ABAX and Zego represents a significant opportunity for both businesses, as well as the customers we serve. The relationship with ABAX will enable Zego to scale its flexible fleet insurance solutions at a faster pace, and continue to bring fairer pricing to our customers at a time where aligning costs with their revenue stream is more important than ever.”

Morten Strand, CEO of ABAX said: "The world of business and commerce has been changing rapidly for some time, although no-one could have foreseen the impact of COVID19. Which has both accelerated the change, and pushed businesses into some interesting, and challenging new directions. To survive, businesses must adapt, and embrace new and innovative ideas, such as Zego’s usage-based insurance, powered by ABAX."

Craig Allan, strategic partnerships manager, ABAX added: “I am extremely excited to be working in partnership with Zego. We have started to see joint customers already, which is fantastic. I am looking forward to working together to develop this partnership, and explore new Solutions in different verticals.”