London-based insurtech Zego has partnered with European micro-mobility company Dott to provide insurance for its fleet of shared e-scooters across France and Belgium. The partnership is a crucial milestone for Zego, who last month raised $42million in a Series B investment to fund the company’s expansion across Europe and double its workforce.
Zego’s policy will be integrated into Dott’s sign-up process to ensure that all users have comprehensive cover, while Dott will also absorb the price of the insurance so that no extra cost is passed onto its riders.
For Zego, who have grown 900% in the last 12 months, the deal marks the company’s arrival in France and Belgium, where it will look to capitalise on the growing popularity of shared new mobility services such as e-scooters. Zego was founded in 2016 to provide flexible insurance for gig economy workers and has since expanded its B2B offering to cater to the new mobility market, providing bespoke policies for fleets of vehicles. The company offers a range of policies from minute-by-minute insurance to annual cover, providing far more flexibility than traditional insurers, with pricing based on usage data from vehicles.
The partnership is also an important step for Dott, with the company looking to prioritise safety as it grows its fleet and moves to new cities. Dott was launched by French co-founders Maxim Romain and Henri Moissinac in early 2018 and has introduced its e-scooter service to Paris, Lyon, Brussels and Milan. The company, headquartered in Amsterdam and Paris, raised a $23million seed fund in December 2018 and is announcing a $34million Series A investment today. Dott sets itself apart from the competition with its unique scooters designed explicitly for urban shared mobility – with wider wheels for better grip, wider decks for more stability, and more effective brakes. The company also plans to launch e-bikes by the end of the year.
Sten Saar, CEO and co-founder of Zego, said: “We believe that companies such as Dott represent the future of mobility and we want to enable the growth of this exciting new industry by creating insurance models which suit its needs and can unlock its potential. For this form of transport to be widely adopted and welcomed by all, it’s essential that e-scooters come with the right insurance without causing inconvenience for riders.”
Maxim Romain, CEO and co-founder of Dott, said: “Zego’s offer is exactly what we were looking for and we are particularly proud to be the first scooter-sharing company to integrate this type of insurance coverage, without increasing costs for our customers. Our goal is to make this sector more professional, more responsible and therefore more sustainable.”