Zego

Zego is a London-based insurtech company that has revolutionized commercial motor insurance since its founding in 2016. The company emerged from the gig economy with a mission to provide flexible, technology-driven insurance solutions for delivery drivers, rideshare operators, and commercial fleets. What started as pay-as-you-go insurance for Deliveroo drivers has evolved into a comprehensive insurance platform serving over half a million UK drivers and businesses across five countries.

In March 2021, Zego achieved a historic milestone by becoming the UK's first insurtech unicorn with a valuation of $1.1 billion following a $150 million Series C funding round led by DST Global. This achievement validated the company's innovative approach to insurance, which leverages telematics and data analytics to offer usage-based and behavior-based policies. To date, Zego has provided more than 17 million insurance policies and covered over 200,000 vehicles.

The company earned its own insurance license in 2019, enabling it to build and sell its own policies rather than relying solely on partnerships with traditional insurers. This vertical integration allows Zego to collect five times more data per vehicle than competitors—50 data points per second—providing a much more comprehensive understanding of risk. This data advantage enables the company to offer best-value coverage with policies ranging from one hour to one year, serving everyone from self-employed gig workers to large commercial fleets.

Zego's journey to profitability marks a defining chapter in insurtech history. In 2024, the company cut its net loss to £4 million from £34 million the previous year, and achieved monthly profitability with a combined operating ratio of 90% in Q4 2024. This financial discipline, combined with 40% revenue growth in early 2025, positions Zego as both a gig economy pioneer and a serious challenger in the broader UK motor insurance market. The company continues to expand its product portfolio beyond commercial insurance into personal car insurance and business van coverage, while maintaining its commitment to using technology to make insurance more accessible, fair, and flexible for modern workers.