London-based insurtech Zego has reached a headcount of 200, after tripling its workforce in the space of 12 months as it gears up for increased B2C and B2B take-up of its flexible insurance.
Founded in 2016 and initially focused on delivery drivers in the gig economy, Zego has now evolved into the B2C sector, including with car subscriptions and on-demand car hire providers, and is also targeting corporate fleets and logistics operations, backed by the provision of ‘Insurance as a Service’ and a user-friendly inhouse-developed fleet management portal.
Its work recently saw it pass the milestone of 230 million hours’ worth of flexible insurance policies sold, while also expanding to its fifth European country. The last year has also seen Zego become the first UK insurtech to be awarded its own insurance licence, allowing the company to create and sell its own policies, as well as working with partner insurers.
In 2020, the company expects to double its headcount again and take its flexible insurance products to several new countries.
Sten Saar, CEO and co-founder of Zego, said: “Zego has grown rapidly over the last 12 months, and the fact that we’ve been able to do this in a sustainable way is testament to the brilliant team we’ve built here, with a strong community based on shared values.
“We’ve been lucky enough to attract an amazing amount of talent from all over the world, and this diversity of thinking has been a key ingredient in our success to date. With several important partnerships already on the horizon in 2020, I have no doubt that this year will be even bigger than the last.”
