Zego overview

Zego is a pay-as-you-go insurance venture that offers coverage for food and courier drivers working within the gig economy. Available via a mobile app, Zego can track usage and debit accounts only when the insurance is needed and used.

Founded by three ex-couriers in 2016 (originally under the name Tego), the venture aims to cater to the needs of car and scooter delivery workers by providing them with flexible, affordable policies. Zego currently offers four products – UBI for cyclists, scooter drivers and car drivers, as well as social, domestic and pleasure insurance for scooters. Zego’s product can integrate directly with a driver’s gig economy platform and their hourly cover can start and stop in sync with their shifts. Currently, cover starts from £0.55 an hour and is underwritten by Aviva, amongst others.

Since launch, Zego has seen over 230m hours logged by gig economy workers. The venture has secured partnerships with multiple international couriers, including Deliveroo, UberEats and Quiqup, and announced plans to expand across Europe in 2018 and 2019.

In January 2018, Zego was announced as one of three Insurtech startups to take part in Tech City UK’s Upscale program. Later that same year, Zego launched public liability insurance for the gig economy. Coverage is available for purchase by the day, week, month or year up to £1 million.

In 2019, Zego revealed it had secured an undisclosed amount from VC debt provider, Triplepoint, in the form of a credit facility. Later that year, they would partner with France-based La Parisienne Assurances (LPA) to expand its services across Europe, as well as WeFlex, a vehicle provider platform helping companies like Uber manage their fleet. As part of the WeFlex partnership, Zego will provides its 700-strong fleet with a first-of-its-kind insurance policy, driven by real-time data. The result? Rather than an annual premium, often based on arbitrary measures, WeFlex will receive tailor-made pricing models which Zego produces by analysing every aspect of the fleet and its drivers’ behaviour.

In June 2019 Zego announced it had raised $42m in Series B funding, led by investor Target Global. The raise came after the startup announced it had seen 900% growth over the past 12 months. The latest funds are being put towards Zego's expansion across Europe, and the founders stated they planned to double their team from 75 to 150.

The company's arrival in mainland Europe came in July 2019, with the announcement of a partnership with the European e-scooter startup 'dott'. Zego will provide insurance to dott's fleet of shared e-scooters across France and Belgium. The following month Zego secured a partnership with car-subscription service Drover to insure its private hire vehicle subscriber base.

In November 2019, Zego partnered with Engineius to offer the movement-management startup a pay-by-the-mile insurance policy to its fleet customers across 30 European countries.

Later that same month, Zego secured an insurance license, enabling it to collect and share data with its insurance partners.

Zego reported it had tripled its workforce in 2019, reaching a headcount of 200 employees in early 2020. It also revealed it had reached 230m hours' worth of flexible policies sold, and expanded to its fifth European country.

In February 2020 the company secured an insurance broker license in France. The new licence will help to simplify the company's continued expansion in Europe regardless of oncoming Brexit regulations.

In March 2020, Zego announced it would offer 14-days free cover to any customers with suspected symptoms of Covid-19, to enable them to safely isolate without additional costs. A few months later, in May, the startup expanded its partnership with RSA to enhance its flexible van fleet insurance partnership due to the spike in demand for delivery and courier fleets during the pandemic.

Map showing the location of Zego

London, United Kingdom

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Key people

Sten Saar COO & Co-Founder
Harry Franks CEO & Co-Founder
Stuart Kelly CTO & Co-Founder
Jacqueline Dunkley Head of Regulatory Compliance
Alberto Menolascina Executive Director