London-based 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 and share actions a fleet can take to reduce their risk. Zego’s behavioural insights and risk management tools are delivered in part through its digital-first fleet portal, which is powered through proprietary behavioural data algorithms that are tailored to individual fleets.
As fleets begin to use these insights and improve their behaviour, they can unlock up to 15% cashback on their policy, Zego says, ensuring that fleet operators are incentivised to take up safer driving behaviours.
Zego looking to consolidate industry partnerships
The partnership could be a first of many for insurtech unicorn Zego, which in a statement suggested it was “looking to engage with a smaller group of… strategic partners” in order to strengthen its innovation pipeline.
Sten Saar, CEO of Zego, says: “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.”
Jon Dye, Director of Underwriting (Motor) for QBE, continues: “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. We are excited to be joining them on our shared vision to develop forward-thinking and sustainable customer solutions.”