Zego and Abax have launched their data-led insurance model in the Netherlands and a ramped-up operations in France.
The collaboration between Zego and Abax, which started in the UK in 2020, aims to price policies far more accurately, meaning fleet businesses can save both time and money.
“Our extended partnership with Abax means we can continue our growth into Europe, whilst providing flexible and affordable insurance to thousands of fleet businesses – helping them save time and money,” said Sten Saar, CEO and co-founder of Zego
Abax’s telematics solution helps Zego give fleets more control over how their assets are managed.
Once a small Abax telematics device is installed on the company car or van, both Zego and the customer can see how the vehicles’ drivers are behaving on the road.
Zego then uses this information to share insights with drivers to improve their driving, and ultimately to calculate their premium prices at renewal.
One of Zego’s fleet solutions is a usage-based option that helps to ensure that premiums will always reflect positive or negative seasonal changes in the customers’ businesses.
For example, when some of Zego’s customer’s fleet operations were cut back due to the lockdown restrictions, they saw their monthly insurance cost reduced by an average of 64%.
Another option, opened up through the partnership between Zego and Abax, is a flat-rate policy. Unlike the usage-base option, flat-rate insurance is a more cost-effective option for fleet companies with consistently high mileage and demands.
Craig Allan (pictured), director global partnerships at Abax, said: “The Abax solution – which includes a simple-to-install device – will also let fleet managers track their vehicles and monitor driver behavior, giving them valuable insight into the performance of the entire fleet and potential additional savings of fuel and emissions.
“It will also help them to keep fully compliant tax records that prove that vehicles have only been used for business purposes, eliminating the threat of extra tax charges.”