This week, our client Zego, the fast-growing start-up offering flexible insurance solutions to the gig economy, announced it had secured its own insurance licence. It is the first UK InsurTech firm to do so.
The announcement follows Zego’s successful Series B, raising $42m earlier in 2019 to fuel its European expansion and carrier launch. It’s a significant achievement for Zego, and a great moment for the InsurTech industry.
The new licence will give the start-up greater freedom to create flexible, personalised policies for its customers. Zego will also continue to collaborate with its current partners – including the 15 reinsurers who back their policies and whose arrangements we’ve helped negotiate, alongside the start-up’s insurance distribution agreements.
Harry Franks, co-founder and COO of Zego, said:
“Capital Law have been our trusted partner for two years now. We’ve benefited greatly from their expert knowledge of insurance and technology, and thanks to their positive team dynamic, we’ve also had fun along the way!”
Always a pleasure to work with Zego – thanks for inviting the Capital team along to the launch celebrations on 14 November!