Commercial motor insurance provider, Zego, has launched a new flat rate insurance policy, further extending its choice of policies for fleet businesses. Complementing Zego’s flagship usage-based policy, the flat rate product is targeted at fleet and private hire companies which are in constant demand, driving high mileage or simply wanting to pay a predictable, fixed premium per month.
Fleets using the flat rate policy will be installed with Zego’s telematics devices from partner ABAX. This means the insurtech is able to capture fleet driving behaviours, which in turn allows fleet businesses to identify and better manage any risks. In return for sharing their data, better performing fleets will be rewarded with up to 30% off their policy at renewal.
Fleet businesses will also be able to effectively manage their vehicles and claims processes through Zego’s fleet portal. The portal offers insights into individual vehicle performance, a live 24/7 view of claims and allows businesses to add and remove vehicles and drivers instantly from the policy. All of these features have been designed to make life easier for the UK’s fast-growing fleet market, helping courier and private hire companies onboard new workers quickly and easily.
Zego, founded in 2016, provides flexible commercial insurance products for businesses, including employed drivers and entire vehicle fleets, from car leasing companies to new mobility operators. The company has provided more than 17 million insurance policies and covered more than 200,000 vehicles in five countries – recently becoming the UK’s first insurtech unicorn after raising $150 million in a Series C fundraise.
Ines Feracci, Commercial Director at Zego, said: “Zego is committed to offering fleets the most cost effective, flexible and easy-to-manage insurance policies. Where our flagship ‘by the mile’ flexible products suit some fleets, others prefer to pay a set monthly premium – whilst still being able to access the benefits Zego’s telematics and intuitive dashboards bring.
“We are thrilled to be able to offer a choice of products to fleets all of which reward better driving performance.”