Commercial motor insurance provider Zego has partnered with ultra-flexible leasing company SOGO to insure its rapidly growing fleet of cars and vans. Brokered through McCarron Coates, Zego will provide flexible, usage-based insurance to SOGO’s fleet of vehicles, covering drivers on a range of cars and vans from Renault EVs to Audi A6s, with plans to support SOGO’s rapidly increasing fleet of vehicles which is expected to reach over 20,000 vehicles by the end of 2025.
The partnership will allow SOGO to offer pay-by-the-mile insurance to its customers as part of their monthly leasing subscription while absorbing the cost of insurance premiums on behalf of drivers. This keeps insurance costs lean for the end-user and ensures drivers won’t need to think about cover themselves, while any danger of SOGO customers driving without cover is eliminated.
SOGO is also able to efficiently add and remove cars from Zego’s policy with seamless API integration, saving time and money on admin when compared with the process of using traditional insurers.
Zego’s usage-based insurance policy complements SOGO’s own telematics technology, Trak Global, which allows both companies to benefit from the shared use of data. With Trak Global, SOGO will be able to track individual driver behaviour and share with Zego, allowing both companies to identify driver risks and in turn look to improve the safety of vehicles on the road.
Zego, founded in 2016, is a commercial motor insurance provider that specialises in insurance for fleets businesses including new mobility operators and car leasing businesses, such as Drover and Splend. Zego has insured more than 200,000 vehicles in five countries and recently became the UK’s first insurtech unicorn, raising $150 million in Series C funding.
SOGO provides flexible, monthly leasing for cars and vans. It launched nationally in January 2021 and offers vehicles to both individuals and businesses. It plans to have 20,000 vehicles in the next five years, with fleets ranging from luxury SUVs to EVs and commercial vehicles.
Sten Saar, CEO and co-founder of Zego, said: “Like us, SOGO’s offering is built on flexibility, and it is these shared values that make this a great partnership.
“We are seeing a major shift from ownership to usership in the world of transport, for both personal and commercial use, and SOGO’s unique business model, coupled with our usage-based insurance, has huge potential to change the way that both people and businesses lease vehicles.”
Karl Howkins, managing director of SOGO said: “Our new partnership with Zego and McCarron Coates gives our customers unrivalled flexibility for their mobility needs. With one simple cost, businesses can simply budget and adapt their fleet to their needs in a rapidly changing economy.”