19 Jan 22
News

Insurtech motor insurer Zego branches out

Zego Founders Harry Franks (L) and Sten Saar (R)

UK-based commercial motor insurer Zego has announced details of a European expansion plan. Starting with a launch in the Netherlands, expanding operations in France and other target territories throughout 2022.

Founded by ex-Deliveroo directors Sten Saar and Harry Franks, Zego achieved insurtech Unicorn status in 2021 prompting a recruitment drive and international growth, going from 300 employees in January 2020 to 637 today.

Zego’s news comes at a time when traditional insurers on the continent consolidate, with a 9% reduction in insurers in the Dutch market alone between 2019 and 2020.

Tech-led insights

Zego offers an insurance product that rewards better, safer driving, empowering customers to save up to 20% on premiums at renewal through proactive risk management. Zego's tech-led proposition centres around a fully-automated fleet portal, harnessing telematics to unearth behavioural insights.

Sten Saar, CEO of Zego commented: "Commercial vehicles now account for over 13% of the vehicles on our roads, the highest proportion ever recorded, and this number is rising. For the people and businesses managing these fleets, flexibility and control are both highly sought after, but driver behaviour remains a huge variable that is notoriously difficult to influence.

"Telematics and data science have proven that they can improve driving behaviour, and when combined with a financial incentive, they have great potential to make fleets safer and cheaper to run."

Image of Zego founders Harry Franks and Sten Saar, courtesy of Zego.

Authored by: Alison Pittaway