Commercial motor insurance provider, Zego has partnered with grocery delivery startup Dija to insure its growing fleet of e-bikes. The partnership is the insurtech’s first commercial e-bike policy, following its recent launch of two new flexible insurance products designed to cover e-bike and moped fleets in the UK.
Zego’s third party and accident policy will provide Dija’s e-bike fleet with fixed-term annual cover, but charged on a monthly basis instead of the company having to pay a large upfront fee. As a result, Dija will be able to assume greater control over its cash flow, which in turn will enable the business to use more of its funds on things like geographic expansion and expanding its team of employed delivery workers.
Dija will also be able to add and remove e-bikes from its policy with ease by making use of Zego’s fleet portal. In doing so, Dija will be able to track how many of their e-bikes are insured at any given time, as well as which e-bikes in particular. This will provide the startup with enhanced transparency and more flexibility than they would have with a more traditional insurer, and will allow them to actively manage their own fleet on a daily basis.
With both Zego’s new flexible e-bike and moped fleet products, policies can go live in as little as one week, compared to more traditional policies that may take much longer. These policies enable businesses that so crucially rely on vehicles to make money, to save valuable time in getting their vehicles out on the road. They also enable businesses to quickly scale their fleets in size, and to expand them to include other vehicles too, in a similarly timely fashion.
Zego, founded in 2016, is a commercial motor insurance company that powers opportunities for businesses, from self-employed drivers and riders to entire fleets of vehicles. Zego offers a range of policies from flexible pay-as-you-go insurance to annual cover, having insured more than 200,000 vehicles in five countries. The company recently became the UK’s first insurtech unicorn, raising $150 million in Series C funding to help expand in new and existing territories and double down on its fleet offering.
Dija, which launched in London early this year with $20 million seed funding, is an ultra-fast grocery delivery startup. Customers can choose from thousands of products at retail prices and have them delivered in ten minutes with no missing items and no substitutes. Dija currently serves Londoners in South Kensington, Fulham, Hackney, Islington and Notting Hill. The company is also in the process of expanding to new locations across the UK and Europe.
Ines Feraci, Director of B2B from Zego, said: “The Covid-19 pandemic has seen a huge increase in demand for food and grocery delivery platforms and has opened the door to new operators in the space.”
“We are excited to be teaming up with Dija, a startup with huge potential, to launch our first ever commercial e-bike policy. Businesses in this sector are completely reliant on their vehicles and we want to give them flexible insurance products which help to maximise their fleets’ potential while minimising costs.”
Alberto Menolascina, Founder & CEO at Dija, said: “Our partnership with Zego will enable us to assume greater control over our cash flow, which in turn will enable us to prioritise our funds on things like international expansion and hiring. For a fast growing startup like ourselves, this is exactly the kind of flexibility that we need.”