Zego, the usage-based insurance broker that caters to the sharing economy, has won £1.22m ($1.59m) in seed funding to develop its Aviva-underwritten product. The InsurTech start-up provides coverage for workers at companies like Deliveroo and Uber, who need insurance on vehicles only when they are using them. Aviva is one of a number of insurers, including AXA Prudential Plc, which have been investing heavily into fintech start-ups over recent years.
Zego, the usage-based insurance broker that caters to the sharing economy, has won £1.22m ($1.59m) in seed funding to develop its Aviva-underwritten product. The InsurTech start-up provides coverage for workers at companies like Deliveroo and Uber, who need insurance on vehicles only when they are using them. Venture capital firm LocalGlobe led the funding round.