Commercial motor insurer Zego has revealed its European expansion plans.
The InsurTech unicorn is launching in the Netherlands and ramping up operations significantly in France, while identifying several other target territories throughout 2022.
The company will target the £20 billion European fleet insurance market with its product that rewards better, safer driving.
Its tech-led proposition centres around a fully-automated fleet portal, harnessing telematics to unearth behavioural insights that empower fleet managers to improve performance and take control of the price of their premiums.
Zego says its fleet portal also saves fleet customers up to 40% on admin time, while also helping to improve route efficiency, minimise vehicle and driver downtime, reduce fuel costs, reduce wear and tear, slash maintenance bills and ease road congestion.
The company has grown its headcount from around 300 in January 2020 to 637 today.
Driver behaviour
“Commercial vehicles now account for over 13% of the vehicles on our roads, the highest proportion ever recorded, and this number is rising, as technology continues to decentralise our shopping and travel habits,” said CEO Sten Saar.
“For the people and businesses managing these fleets, flexibility and control are both highly sought after, but driver behaviour remains a huge variable that is notoriously difficult to influence.
“Telematics and data science have proven that they can improve driving behaviour, and when combined with a financial incentive, they have great potential to make fleets safer and cheaper to run.
“At Zego we are using this data to understand risk better than traditional insurers and other insurtechs, so we can offer more accurate pricing and more control; both of which have halo effects that improve life for everyone.”