InsurTech Zego partners with car-subscription firm
Insurtech firm Zego has partnered with car-subscription service Drover in a move designed to protect its drivers as they drive.
The new partnership will see Zego integrated into the sign-up process for UK-based Drover, which was founded in 2015 and offers private-hire drivers a car via subscription.
It will allow Drover customers to be automatically insured on a pay-per-minutes basis, covering Drover drivers for as long as they are driving.
Drover has raised £7.5m to date, while forming partnerships with manufacturers including BMW, Volkswagen and Toyota.
It has begun investing in electric vehicles (EV) and is a selected partner of Uber’s Clean Air Fund, which hopes to allow drivers to upgrade to an electric vehicle as well as funding other clean air initiatives.
The partnership follows a £34m raise for London-based Zego, founded by Harry Franks, Sten Saar – both previously of Deliveroo - and Stuart Kelly in 2016.
“We’re seeing a major shift from ownership to usership in the world of transport and Drover has taken advantage of this movement to create a unique business model, which has huge potential to change the way that we use cars,” said Saar, CEO.
“This is why we work so well together and why we’re hoping to collaborate further as Drover expands to new territories.”
Rob Prager, Head of Insurance & Risk at Drover, added: “We’re delighted to have partnered with a like-minded tech startup in Zego. Their expertise in new mobility and digital first approach makes them the best possible insurtech partner as we continue to scale.
“In keeping with our ‘Cars Made Easy’ ethos, we can now give our subscribers more choice and flexibility than they’ve ever had before.”
In July Zego partnered with European e-scooter start-up Dott to offer a similar service to scooter riders.