Zego is a London based insurtech start-up that offers flexible motor, personal and commercial insurance. The company sells policies - which range from an hour to a year - online, via phone and on its app.
Founded by former Deliveroo employees Sten Staar and Harry Franks, as well as the former head of engineering at Hubble Stuart Kelly, the company began in the motor insurance space by offering hourly insurance for delivery drivers.
The company has since branched out into other areas of insurance including public liability. In September 2018 it expanded internationally by launching in Ireland.
Franks has stated that the inspiration came when looking into insurance for delivery drivers whilst at Deliveroo. Noticing that drivers who were working ten hours a week were paying the same rates as those who were working sixty hours, the costs for part-time drivers was too high. Without an existing product addressing the problem, he realised it would have to be built.
“I remember asking someone, ‘can’t it be done differently?’ and they said ‘no, this is the way it’s done’. And that was the click moment. My wife remembers the day, we were walking home. I said, ‘I’ve had this crazy idea, we can use data to make malleable insurance products. It really was a lightbulb moment.”..
Awards & Nominations
Zego was named a Virgin Media Business Disruptor to Watch in May 2017, and in August 2018 was featured in Wired Magazine’s annual list of the ‘100 hottest startups in Europe’. The company was also nominated in the SME and Start-Up category at the 2018 Evening Standard Business Awards
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