Insurtech Zego has secured an insurance broker licenace in France, supporting its expansion across Europe, in particular following the Brexit transition period.
The London-based company currently operates in five countries including the UK, Ireland, France, Belgium and Spain. Its work in France has seen it tie up with a number of French fleets on the provision of flexible insurances, since arriving in July 2019 in partnership with micro-mobility company Dott.
Going forward, the business is planning to capitalise on the fast-evolving fleet and new mobility market in France and across Europe, by providing businesses with transparent, usage-based and data-driven policies.
Already, Zego has secured its own insurance licence, enabling the company to build and sell its own policies.
This will be aided by the new French broker licence, awarded by the French regulator, ORIAS, which will support the company’s continued expansion across Europe by eliminating any friction when Zego enters into new deals with EU-based partners following the Brexit transition period.
Sten Saar, CEO and co-founder of Zego, said: “Europe is a huge market for us with a lot of exciting opportunities, and by securing a French broker licence, we have given ourselves the freedom to operate without any friction post-Brexit.
“Just like the UK, in Europe we’re seeing a gradual shift from the ownership of vehicles to usership, and our flexible and modern approach to insurance puts us in a great position to meet new demand arising from this trend.”