Zego goes to Spain for insurtech fun
Zego, the London-based insurtech, has launched in Spain, offering a range of insurance products to delivery and private hire vehicle fleets.
The insurtech was founded in 2016 and is aimed at self-employed delivery and private hire drivers in the UK. The launch comes accompanied by the opening of a new office in Madrid.
Zego will target the European insurance market with policies designed to cover the risks emerging alongside new mobility services. Customers can purchase policies through Zego’s website or mobile app.
“The European insurance market is calling out for innovation,” says Sten Saar, chief executive of Zego. “There is a lot of demand for more flexible products which align with modern working life and new models of vehicle usage. We are developing great ties across Europe – this is the beginning of our international journey.”
By launching in Spain, the company hopes to capitalise on the emerging new mobility market, of which the nation is “at the forefront”. In recent years, Zego reckons the country has seen mass-scale adoption of electric vehicles, movement from ownership to shared vehicle usage and a proliferation of work opportunities created by the launch of on-demand delivery and ride-hailing services.
The Spanish arm will be led by general manager Gerardo Redondo.
The firm claims to cover more than a third of the UK’s scooter delivery riders. The company offers a pricing system based on usage for both individuals and businesses, which can be accessed through the website or app.
Last month, Zego closed a deal with La Parisienne Assurances to offer hire insurance to customers across Western Europe.