Zego (insurance)
Zego is a London based insurtech start-up that provides flexible motor, personal and commercial insurance. The company sells policies ranging in length from an hour to a year.[1] Customers purchase these online, via phone and through Zego’s app.
Zego was founded by former Deliveroo employees Sten Saar and Harry Franks, alongside Stuart Kelly, former Head of Engineering at Hubble.[2] The company originally began operating in the motor insurance market, selling policies by the hour to part-time fast food delivery drivers. In 2020 Zego started to offer private hire insurance policies.
Since 2016, the company has expanded into other areas of insurance, including public liability insurance for self-employed professionals and employers’ liability cover for businesses.[3] In September 2018, Zego launched overseas, making flexible motor insurance products available to delivery drivers in Ireland.[4] In December 2018, Zego began offering motor insurance policies in Spain.[5]
Concept[edit]
Franks stated that his inspiration for Zego came when looking into insurance for delivery drivers whilst at Deliveroo.[6]
Funding[edit]
The company has raised over £6 million in funding since 2016. The funding was led by venture capitalists Balderton Capital with participation from LocalGlobe and various angel investors.[7]
Awards & Nominations[edit]
Zego was named a Virgin Media Business Disruptor to Watch in May 2017[8], and in August 2018 was featured in Wired Magazine’s annual list of the ‘100 hottest startups in Europe’.[9] The company was also nominated in the SME and Start-Up category at the 2018 Evening Standard Business Awards[10] and featured in the 2018 ‘InsurTech 100’ list of the world’s most innovative insurtech companies.[11]
References[edit]
- ↑ Gangcuangco, Terry. ""Insurance had to change" - Zego launches new product". Insurance Business. Retrieved 2018-12-21.
- ↑ UK, Rob Price, Business Insider. "A startup founded by ex-Deliveroo employees thinks it has solved a costly problem for couriers". Business Insider. Retrieved 2018-12-21.
- ↑ 2018-07-11T10:28:00+01:00. "Gig economy start-up launches pay-as-you-go public liability cover". Insurance Times. Retrieved 2018-12-21.
- ↑ Hamilton, Peter. "Pay-as-you-go insurer for gig economy enters Irish market". The Irish Times. Retrieved 2018-12-21.
- ↑ "Economía/Finanzas.- La compañía de seguros flexibles bajo demanda Zego comienza a operar en España". La Vanguardia. 2018-12-12. Retrieved 2018-12-21.
- ↑ "Entrepreneurs: Changing insurance with deals for the gig economy". Evening Standard. 2018-09-17. Retrieved 2018-12-21.
- ↑ "Zego picks up £6M Series A led by Balderton for its gig economy worker insurance". TechCrunch. Retrieved 2018-09-26.
- ↑ "Fast Track - Zego | Virgin Media Business". www.virginmediabusiness.co.uk. Retrieved 2018-09-26.
- ↑ Franklin-Wallis, Oliver (2018-08-28). "The hottest startups in London". Wired UK. ISSN 1357-0978. Retrieved 2018-12-21.
- ↑ "2018 Evening Standard Business Awards: the shortlist nominees revealed". Evening Standard. Retrieved 2018-09-26.
- ↑ "InsurTech 100 – The world's most innovative InsurTech companies that every leader in the insurance industry needs to know about". Retrieved 2018-12-21.
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