QBE and Zego share a similar vision, with both businesses being fully invested in developing industry-leading approaches to assessing risk in order to be fairer to the customer. 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 as well as sharing actions a fleet can take to improve their risk.
Zego delivers its behavioural insights and risk management tools through a combination of its digital-first fleet portal & its risk management team, both of which are powered through proprietary behavioural data algorithms which 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, ensuring that the value gained from safer driving is shared between the insurer and the fleet.
This partnership indicates a maturing on the part of Zego, the unicorn insurtech. Insiders have hinted that the company is now looking to engage with a smaller group of more strategic partners as they sure up their innovative solution.
Sten Saar, CEO of Zego, commented: “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), 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.”
