Zego and ABAX have rolled out their data-led insurance model further in Europe, helping more fleets to save both time and money.
The collaboration between commercial motor insurance provider Zego and telematics giant ABAX started in the UK in 2020 and, based on its success, has now launched in the Netherlands and expanded its presence in France.
The tie-up enables fleets with cars or vans to have a small ABAX telematics device installed, providing data for both Zego and the customer to see how drivers are behaving on the road. Zego then uses this information to share insights to improve employees’ driving, and ultimately to calculate the firm’s premium prices at renewal.
Thanks to ABAX’s specialist telematics technology, Zego is able to give fleet businesses more control over how their assets are managed, allowing thousands of fleet managers across Europe to increase business efficiency, reduce risks and save money on insurance premiums.
“Our extended partnership with ABAX means we can continue our growth into Europe, whilst providing flexible and affordable insurance to thousands of fleet businesses – helping them save time and money,” said Sten Saar, CEO and co-founder of Zego.
The data-led insurance model is available as both a usage-based option and a flat-rate policy. The former helps to ensure that premiums will always reflect positive or negative seasonal changes in the customers’ businesses; when lockdown restrictions hit Zego’s customer’s fleet operations, they saw their monthly insurance cost reduced by an average of 64%.
For fleets with consistently high mileage and demands, the flat-rate insurance service is a more cost-effective option.
“The ABAX solution – which includes a simple-to-install device – will also let fleet managers track their vehicles and monitor driver behavior, giving them valuable insight into the performance of the entire fleet and potential additional savings of fuel and emissions. It will also help them to keep fully compliant tax records that prove that vehicles have only been used for business purposes, eliminating the threat of extra tax charges,” said Craig Allan, director global partnerships at ABAX.
