ABAX partners with usage-based insurance to expand into new markets
The collaboration between Zego and Telematics supplier ABAX started in the UK in 2020, and now this successful data-led insurance model is expanding into Europe - most recently launching in the Netherlands and expanding its presence in France.
Entering the Netherlands
Zego and ABAX can now announce their launch in the Netherlands, and at the same time, a ramp-up of operations in France. Through its innovative use of data, Zego can 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,”
says Sten Saar, CEO and Co-Founder of Zego
More control over the business’s fleets
ABAX’s world-class telematics solution helps Zego give fleet businesses more control over how their assets are managed, allowing thousands of fleet managers across Europe to increase business efficiency, reduce risks and save money on insurance premiums.
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 saving them up to 30%.
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.
“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,”
says Craig Allan, Director Global Partnerships.