Brite partners with insurtech Zego to expand fleet
Irish (Galway) mobility startup Brite partners with insurtech Zego to expand fleet electric vehicle offering
XXX, Ireland – (*Irish Version…’National micro mobility provider Brite, based in Galway City’) (UK version Irish mobility startup Brite) has partnered with new mobility insurance provider Zego to expand its fleet offering of e-mopeds, e-scooters and e-bikes across Ireland.
The partnership between Brite and Zego means that businesses, university campuses and delivery services that use its fleet of e-vehicles will be automatically insured, as Brite becomes the first micromobility company in Ireland to provide full coverage to its riders.
The partnership with Zego will see Brite share trip data, which will enable the insurtech to price its insurance based on usage. The flexibility in Zego’s product also stands to have a positive impact on Brite’s cash flow, reducing large upfront costs and freeing up funds which can then be channelled into growth, expansion, and further product development.
Brite launched in 2019, offering zero-carbon shared vehicles to businesses, delivery services and university campuses in select cities across the Republic of Ireland and Northern Ireland. The company plans to rapidly expand its multi modal fleet (*IRISH VERSION ‘including a large corporate shared ebike scheme for Galway City in Q3) this year. Brite has also been in contact with Irish local and national Government offering its support to the Irish Government’s announcement to draft legislation on e-scooter and e-bike regulation. Brite has called for minimum safety standards, such as comprehensive insurance for riders, which they now provide with its B2B offering. Brite will be adding Escooters to its road going fleet once the legislation is approved by the Irish Government.
Zego, founded in 2016, specialises in usage-based insurance for fleets, tailored for businesses, priced on how the fleet is actually used, not guess work. This includes courier fleets, private hire and new mobility operators. The company currently dominates the kick scooter insurance market in the UK, and has a strong presence in the Irish market through partnerships with its ride-hailing firms. The company recently became the first UK insurtech to obtain a European broking licence, helping it to grow in EU territories.
Colin Barry, CEO & Founder of Brite Mobility, said: “We’re extremely proud to partner with Zego and Wakam to help bring our vision to life. The team at Zego has helped us address key safety concerns around our network connected e-scooters, e-bikes, and e-mopeds which has allowed us to focus on running our business and achieving our goals.
“We’re big believers that adopting micro mobility services will help corporations, governments, and others not only achieve their carbon emission goals but also move their people around in a safe and efficient manner, without having to deal with traffic and the costs associated with parking cars and vans in our cities.”
Ines Feracci, Director of B2B at Zego, said: “Micromobility has become a hot topic as businesses and consumers around the globe shift their focus to reducing carbon emissions and making more sustainable choices.
“It is companies like Brite that are going to help our cities become far more sustainable over time, particularly in Ireland. At Zego, we are pleased to be aligned with these types of businesses, and are looking forward to a long-lasting relationship with Brite.”
Serge Corel, Country Manager UK and Ireland at Wakam, added: “Together with Zego, we’ve been able to develop a bespoke program for Brite - helping them become the first multi-modal micro mobility operator in Ireland with insurance.”
Zego is a ‘New Mobility’ insurance provider, powering opportunities for people and businesses by saving them time and money. Zego’s customers across the UK and Europe use vehicles to earn money.
Zego believes the problem with traditional insurance is that it holds businesses back. It’s too expensive and time consuming - but it's essential. Zego solves this problem by designing products for the way customers want insurance to work, saving them time and money. Since its inception in 2016, Zego has protected over 200,000 vehicles for thousands of businesses, from sole traders to fleets to global corporates.
Zego has raised $65 million in funding and was the first UK insurtech to be awarded an insurance license. More recently, Zego was accepted into the Tech Nation Future 50 2020 cohort and won Tech Company of the Year 2020.
Brite Mobility Limited, trading as Brite, supply commuter vehicle managed services for corporate and or university campuses as well as delivery vehicle managed services for food and grocery delivery businesses on the island of Ireland. Brite’s business model sees its micro mobility electric vehicles matched with a strong software backend that provides valuable data to their customers about fleet usage. With a strong automotive industry pedigree, Brite is truly focused on the safety of its riders and the efficiency of its operations.
Wakam creates tailor-made, white-label solutions for its distributor partners and clients based across 13 European countries. With a €382 million turnover in 2019, Wakam is one of the top 20 P&C insurers in France. In 2020, the company was included on the Financial Times “FT 1000: Europe's Fastest Growing Companies 2020,” ranking No.1 in the Top 50 largest turnovers—topping all European insurers. Strongly committed to its social engagements, Wakam is evolving into a Mission-driven company at the end of 2020.