London-based Insurtech Zego has expanded its partnership with RSA Insurance to provide flexible cover for van fleets – including vehicles lying idle.
Announced as demand on the UK’s delivery and courier fleets increases in response to Government pandemic measures, the move means Zego is now offering usage-based policies to delivery, courier or trade van fleets of 20-200 vehicles in the UK.
The flexible policies are expected to reduce upfront costs for businesses, including those vehicles are not on the road, who will never pay more than a base subscription rate.
A cap on costs also means that a sudden increase in demand won’t bring nasty surprises as firms will never pay more than an agreed limit. This flexible approach means that a customer’s insurance costs align with their workload, and revenue.
Gianluca Uberti, director of enterprise, Zego, said: “We have been working in partnership with RSA to deliver flexible policies for individual drivers for the past few years and I am thrilled that we’ve been able to build on this partnership to provide cover for van fleets.
“From today, we’ll be able to offer van fleet owners access to a unique insurance product, which provides them with truly flexible, usage based insurance, at a fair price.”
The new product is part of Zego’s plans to ramp up its fleet offering this year; founded in 2016, it currently insures a large portion of the UK’s delivery and ride-hailing workforce and also provides a wide range of flexible B2B insurance products for fleet businesses and new mobility services such as car sharing, car leasing and e-scooter platforms. In November 2019, Zego became the first UK insurtech to gain its own insurance, enabling it to build and sell its own policies.
Future plans in the pipeline will further build on the Zego partnership with RSA, which provides insurance products and services in more than 140 countries through a network of partners.
John Dawe, partnership director of RSA Delegated, said: “We are excited to be expanding our existing partnership with Zego, combining RSA’s dedicated expertise in Delegated Authorities with Zego’s passion for creating flexible insurance solutions for customers. We look forward to working with Zego to launch this and other products in the immediate and longer-term future.”