Commercial motor insurance provider, Zego, has partnered with flexible leasing company, Sogo, to insure its fleet of cars and vans.
Brokered through McCarron Coates, Zego will provide flexible, usage-based insurance to Sogo’s fleet of vehicles, covering drivers on a range of cars and vans from Renault electric vehicles (EVs) to Audi A6s, the company said, with plans to support Sogo’s fleet of vehicles which is expected to reach over 20,000 vehicles by the end of 2025.
The partnership will allow Sogo to offer pay-by-the-mile insurance to its customers as part of its monthly leasing subscription.
Sten Saar, chief executive officer and co-founder of Zego, said: “Like us, Sogo’s offering is built on flexibility, and it is these shared values that make this a great partnership.
“We are seeing a major shift from ownership to usership in the world of transport, for both personal and commercial use, and Sogo’s unique business model, coupled with our usage-based insurance, has huge potential to change the way that both people and businesses lease vehicles.”
Sogo recently announced it was launching a new salary sacrifice product giving employees access to a new EV on a monthly basis.
Sogo can also add and remove cars from Zego’s policy with API integration and the company said Zego’s usage-based insurance policy ‘complements’ Sogo’s telematics technology, Trak Global, which allows both companies to ‘benefit’ from the shared use of data.
With Trak Global, Sogo will be able to track individual driver behaviour and share with Zego, allowing both companies to identify driver risks and look to improve the safety of vehicles on the road, the company said.
Karl Howkins, managing director at Sogo, said: “Our new partnership with Zego and McCarron Coates gives our customers unrivalled flexibility for their mobility needs. With one simple cost, businesses can simply budget and adapt their fleet to their needs in a rapidly changing economy.”
Sogo provides flexible, monthly leasing for cars and vans. It launched nationally in January 2021 and offers vehicles to both individuals and businesses.
Zego, founded in 2016, is a commercial motor insurance provider that specialises in insurance for fleets businesses including new mobility operators and car leasing businesses, such as Drover and Splend.
Zego said it has insured more than 200,000 vehicles in five countries and recently became the UK’s first insurtech unicorn, raising $150 million in Series C funding.