The e-scooters are coming: European firm partners with UK InsurTech
Posted on August 20, 2020 by Alistair Hardaker
European e-scooter company TIER has teamed up with UK InsurTech brand Zego to provide insurance cover for its soon-to-be-deployed UK fleet.
The partnership follows the Government’s decision to legalise rental e-scooters on UK roads as part of a 12-month trial period.
For TIER, the deal is an important step as the company looks to bring its e-scooter model to UK cities, replicating the approach that recently saw it win tenders in Paris and Lyon.
TIER e-scooters are already focussed on safety features, having recently introduced a foldable helmet box, a feature that UK riders will be able to use.
Zego’s policy will cover all TIER scooters deployed in the UK and will be fully integrated into the rider sign-up process to ensure that users have the Government’s required Third-Party Liability insurance.
TIER said will absorb the price of the insurance so that no extra cost is passed onto its riders.
TIER is currently participating in tenders for trials in cities across the UK. The Berlin-based company, founded in 2018, has already established a global e-scooter market share of over 20% and operates in 70 cities across nine countries.
Fred Jones, TIER UK Manager, said: “E-scooters offer huge environmental and mobility benefits for UK cities but they need to be introduced in a way that makes everyone feel confident and safe, especially other road users.
“A big part of this will be ensuring that we and our riders are properly covered for accidents, by an insurer who truly understands our market and what we’re trying to achieve. With this in mind, Zego is a natural partner for TIER.”
Sten Saar, CEO and co-founder of Zego, added: “TIER has achieved a huge amount in a short space of time, and we are very excited about supporting the company as it establishes itself in the UK.
“E-scooters can play a major role in making cities greener and less congested, but they need to be insured in the right way that gives everyone peace of mind. We’re very happy to be fulfilling this role.”
Zego was founded in 2016 and offers a range of flexible B2B insurance models for fleet businesses and new mobility services, from minute-by-minute insurance to annual cover, providing far more flexibility than traditional insurers, with pricing based on usage data from vehicles.