The pair share a passion for innovation around risk, says insurtech’s chief executive

Commercial motor insurer and insurtech unicorn, Zego has today (30 August 2022) partnered with insurer QBE to strengthen its ability to deliver tech-enabled behaviour-led fleet insurance products.

Initially, QBE will underwrite Zego’s behaviour-led fleet telematics product that provides insight into fleet risks and actions that can be taken to improve risk.

Zego said that driving behaviour insights gleaned from this approach could unlock up to 15% cashback on these policies – allowing the value created by safer driving to be shared between the insurer and the fleet.

Sten Saar, Zego’s chief executive, said: “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.”

This partnership indicates a maturing on the part of Zego, with insiders hinting that the company is now looking to engage with a smaller group of more strategic partners as it looks to solidify its innovative solution.

Shared vision

The pair share a similar vision, with both businesses being fully invested in developing industry-leading approaches to assessing risk that are fairer for customers.

Zego delivers its behavioural insights and risk management tools through a combination of its digital-first fleet portal and its risk management team, both of which are powered via proprietary behavioural data algorithms that are tailored to individual fleets.

Jon Dye, director of underwriting in motor, QBE, said: “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.”