Zego reveals plans for partnership with Bravo Group’s networks

Zego has revealed its plans for its recent partnership with Bravo Group’s networks – Broker Network and Compass Network as usage-based insurance becomes the new normal.

The partnership aims to create access for Zego to distribute its fleet proposition to more independent brokers across the UK.

Gianluca Uberti, Zego’s director of enterprise told Insurance Times: “Our plan is to work collaboratively with the sales team from Broker Network & Compass Networks, in order to target brokers who have portfolios of customers who match our appetite for private hire, courier or delivery, and micro mobility fleets.”

It has also been working with new mobility fleets, such as electric vehicles and e-scooters to support alternative modes of transport some of which support social distancing in the current pandemic.

He said that Zego hopes to grow within B2B as well as continuing to collaborate with partners that share the insurtech’s vision.

It follows Zego announcing its partnership with Bravo Group’s networks earlier this week. 

New normal

With the Covid-19 pandemic ongoing, drivers have turned to a different type of insurance model that allows them to drive less such as usage-based insurance or telematics. In addition to this many consumers are turning to solo methods of transport to maintain social distancing and mitigate the spread of the virus.

Uberti said: “In this ‘new normal’, we anticipate UBI insurance becoming the new normal too, and Zego is at the very forefront in terms of our ability to deliver this to our customers.

“Covid-19 took everyone by surprise. When the pandemic began, for example, it was imagined it would be a short-lasting, one-off event before we swiftly saw a return to normal. What we are now realising however, is Covid created a ‘new normal’ - one of great uncertainty, and so potentially unexpected fluctuations in demand.”

Shared vision

Uberti said that Bravo Group shared Zego’s vision of “changing the insurance landscape” and that this was clear from the insurtech’s first conversations with the group.

He continued: “Like us, they can see the benefits of usage-based insurance for end customers, particularly in the current climate, and wanted to be able to offer their brokers a unique and innovative approach to insuring their customers’ fleets.

“They also bought into Zego’s vision for insuring fleets in the future - where novel rating factors are identified, based upon unique data gathered from each fleet insured, creating truly fair pricing based on the individuality of each risk.”

He cited some novel rating factors as driver behaviour and geo factors – the latter means adjusting premiums to reflect region.

Read more…How telematics can serve the boat insurance market 

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