Zego partners with QBE

QBE will initially underwrite Zego’s behaviour-led fleet product which makes use of telematics data to provide a full picture of a fleet’s risk profile as well as sharing actions a fleet can take to improve their risk.

Motor specialist Zego detailed that it delivers behavioural insights and risk management tools through a combination of its digital fleet portal and its risk management team, both of which are powered through proprietary behavioural data algorithms which are tailored to individual fleets.

As fleets begin to use these insights and improve their behaviour, according to Zego, they can unlock up to 15% cashback on their policy, ensuring that the value gained from safer driving is shared between the insurer and the fleet.

Sten Saar, CEO of Zego, commented: “Partnering with QBE felt like a natural decision, and we are incredibly excited about the future of Zego with them on board as a partner. Zego and QBE share a passion for innovation around risk, we look forward to continuing to build on our revolutionary insurance products with QBE by our side.”

Director of underwriting at QBE, Jon Dye said: “Working with an innovative and data-driven partner such as Zego will help provide fleets with more tailored solutions while providing us with greater insight into how to best meet their needs.”

Redundancies

The news follows Zego’s announcement in July that it will be cutting its headcount by 17%. This was due to an increase in costs Zego said at the time flagging “economic headwinds” and the need to adapt to a new environment.

Earlier on in the year, the insurtech teamed up with Aviva on fleet policies. The multi-year partnership will provide tailored fleet policies to trades and haulage businesses via direct sales and brokers.

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