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Zego bags major European deal

Zego bags major European deal | Insurance Business

Zego bags major European deal

Last year London-based insurtech Zego expanded into Ireland with the help of La Parisienne Assurances (LPA). Now the industry disruptor is about to take on Europe after bagging a major deal with the same specialist insurer.  

Marking the first of Zego’s Europe-wide managing general agent relationships, the partnership will allow the pay-as-you-go insurance provider to accelerate the roll-out of its proposition to new markets.

The insurtech caters to the gig economy, offering app-purchased coverage to those operating in services like delivery and ride hailing.     

“In a short space of time we have already built a strong foothold in the UK and Ireland, providing flexible insurance for thousands of self-employed workers, entrepreneurs, and small businesses,” noted Zego chief executive Sten Saar.

“This partnership will enable us to build on growth to date and accelerate expansion across Europe.”

Zego uses granular data streams to price tailor-made policies, with an underwriting platform that includes a custom-built policy management system. The LPA deal is poised to significantly extend the insurtech’s international reach.

“I am extremely proud of this ambitious partnership, which emphasises the ability of La Parisienne Assurances to support innovative products that fit the expectations of a changing world,” commented LPA executive chairman and CEO Olivier Jaillon.