Motor insurance provider Zego has introduced a new flat rate insurance policy to expand the range of policy choice for fleet businesses.
According to the InsurTech firm, the new flat rate product is targeted at fleet and private hire companies that are in constant demand, driving high mileage or simply looking to pay a predictable, fixed premium every month.
Founded in 2016, Zego provides commercial insurance products for firms, including entire vehicle fleets and employed drivers. To date, the business has provided over 17 million insurance policies covered over 200,000 vehicles in five countries.
Zego noted that fleets who use the flat rate policy will have the policy installed in the company’s telematics devices from its partner ABAX. This, the firm claims, will help Zego capture fleet driving behaviours, which it states will subsequently allow it to identify and better manage any risks. In return for sharing data, better performing fleets will be provided with up to 30% off their policy at the renewal stage.
The company also highlighted that fleet businesses will be able to manage their vehicles and claims processes through Zego’s fleet portal, which provides drivers with insights into individual vehicle performance, a live view of claims and support for companies to add and remove vehicles and drivers instantly from the policy.
Zego commercial director Ines Feracci 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.”
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