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February 10, 2021

Insurtech Zego joins forces with Brite to provide electric fleet cover in Ireland

By Verdict Staff

UK-based insurtech Zego has teamed up with Irish mobility start-up Brite Mobility to offer electric fleet coverage for the latter’s e-mopeds, e-scooters and e-bikes in Ireland.

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Under the tie-up, Zego will provide insurance coverage for businesses, university campuses and delivery services that use Brite’s fleet of e-vehicles.

Furthermore, the insurtech will price the insurance based on the usage, leveraging the travel data from Brite.

The product flexibility offered by Zego is said to enable Brite to cut down upfront costs and accelerate its growth, expansion and product development using the freed-up funds.

Brite is reportedly the first Irish micromobility company to offer full coverage to its riders.

Founded in 2019, Brite provides zero-carbon shared vehicles to businesses, delivery services and university campuses in select cities across Northern Ireland and Republic of Ireland.

The company is currently gearing up to expand its multi-modal fleet this year, following the Irish government’s move to draft legislation on e-scooter and e-bike regulation.

Commenting on the partnership, Brite Mobility CEO and founder Colin Barry said: “The Zego team helped us solve the main safety issues related to our grid-connected scooters, e-bikes and electric mopeds, which allowed us to focus on running our business and achieving our goals.”

Zego B2B director Ines Feracci said: “It’s companies like Brite that are going to help our cities become much more sustainable over time, especially in Ireland. At Zego, we are delighted to be aligned with these types of businesses and look forward to a lasting relationship with Brite.”

Last December, Zego acquired telematics company Drivit in a bid to bolster its commercial motor insurance offerings.

In September last year, the company partnered with Broker Network and Compass Networks to expand its presence in the broker world and offer its fleet products to a wider pool.

Free Report
img

What challenges are Electric Vehicles posing to the Insurance sector?

The global electric vehicle (EV) market is expected to grow ten-fold from $49 billion in 2020 to over $500 billion in 2033. However, the global rise in popularity of EVs is providing challenges for the Insurance sector due to this being a relatively new, unknown, and rapidly evolving technology. GlobalData’s Electric Vehicles and the Future of Motor Insurance free report focuses on the development of motor insurance policies that provide cover for electric vehicles and the corresponding challenges for insurers. The report looks at the potential size of EV insurance markets in three primary regions of EV uptake – these being Europe, North America, and Asia. This allows you to identify where the most profitable markets are expected to emerge. This reports key findings include:
  • Forecasting of the global EV market size from 2020-2033
  • Challenges facing insurers regarding supply chains, repair networks, and charging stations
  • Details on leading insurers in the top markets and their strategic partnerships
  • Competitive outlook by benchmarking companies such as Tesla, Toyota, and Volkswagen
Understand the challenges electric vehicles pose to the broader Insurance market. Download the report now.
by GlobalData
Enter your details here to receive your free Report.

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