Commercial motor insurer, Zego, with backing from Swiss Re, has teamed up with bp, an integrated energy company, to provide drivers with Zego鈥檚 professional insurance as part of bp鈥檚 all-inclusive electric vehicle subscription service trial – bp EV Pro. The package is designed聽specifically for professional ride-hail drivers in London, and aims to make it more appealing and聽convenient for drivers to opt for an electric vehicle, whilst significantly reducing their emissions.
As part of the bp EV Pro package, which includes a whole host of other benefits such as access to bp鈥檚 charging network – bp pulse and servicing and maintenance, Zego will provide their professional insurance meaning ride-hail drivers will be covered by the correct insurance as soon as the car is聽delivered.
Zego, which was founded in 2016, is a commercial motor insurance company that powers opportunities for businesses, from entire fleets of vehicles to self-employed drivers and riders. It聽offers a range of cover options from flexible pay-as-you-go insurance to annual policies, and so far,聽has provided more than 17 million insurance policies and covered more than 200,000 vehicles in five countries. The company recently raised $150 million in Series C funding and became the UK鈥檚 first聽insurtech unicorn.
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Swiss Re sees electrification as one of the major trends in the ever-changing mobility landscape.聽 Through the partnership with Zego and bp, Swiss Re is further advancing and deploying automotive聽solutions to help drive innovation in the motor insurance sector. Given that cutting carbon emissions and limiting the fallout of climate change are the biggest challenge we face as a society, Swiss Re is聽confident that this partnership will contribute to reaching the UK’s and the global net-zero聽ambitions.
Sten Saar, CEO of Zego, said: 鈥淭he electric vehicle market will have a huge role to play in the UK reaching its net zero target by 2050 and we are already seeing businesses across the country adopt聽EV fleets to reduce carbon emissions.
鈥淲ith our flexible, usage-based insurance product, we are supporting bp鈥檚 trial, by providing affordable solutions to ride-hailing drivers. This partnership is a huge milestone for Zego and we look聽forward to building a lasting relationship with bp.鈥�
Simon Welton, Market Head P&C UK & Ireland at Swiss Re, said: 鈥淪wiss Re is pleased to be聽supporting Zego with our solutions and risk insights, knowledge and reinsurance capacity. Our vision聽is to make the world more resilient. Through our support of Zego, and by extension ride-hail drivers’聽adoption of electric vehicles, we fulfil our vision of making the world more resilient by promoting聽safer roads and supporting the transition to a net-zero carbon economy.鈥�
Deepshikha Vasishta, global fleet director at bp, explains: 鈥渂p EV Pro offers a driver everything they聽need to run their business in one easy weekly payment. It includes a brand new PHV licensed electric聽vehicle car, charging from the bp pulse network, PCO insurance, comprehensive servicing including maintenance and breakdown cover. We partner with Zego given their flexible approach to insurance, especially in the ride hail market鈥�
