Commercial motor insurance provider Zego has issued its first e-bike product which will allow the client to rapidly alter the number of e-bikes under the policy and monitor the numbers covered in real time.
Zego has partnered with grocery delivery start up Dija to insure its growing fleet of e-bikes. The third party and accident policy will provide Dija’s e-bike fleet with fixed-term annual cover but charged on a monthly basis instead of the company having to pay a large upfront fee.
As a result, Dija will be able to assume greater control over its cash flow, which in turn will enable the business to use more of its funds on things like geographic expansion and expanding its team of employed delivery workers.
Dija will also be able to add and remove e-bikes from its policy with ease by making use of Zego’s fleet portal. In doing so, Dija will be able to track how many of their e-bikes are insured at any given time, as well as which e-bikes in particular.
Ines Feraci, Director of B2B from Zego, (pic) said: “The Covid-19 pandemic has seen a huge increase in demand for food and grocery delivery platforms and has opened the door to new operators in the space.
“We are excited to be teaming up with Dija, a start up with huge potential, to launch our first ever commercial e-bike policy. Businesses in this sector are completely reliant on their vehicles and we want to give them flexible insurance products which help to maximise their fleets’ potential while minimising costs.”
Zego explained its flexible e-bike and moped fleet policies can go live in as little as one week, compared to more traditional policies that may take much longer.
“These policies enable businesses that so crucially rely on vehicles to make money, to save valuable time in getting their vehicles out on the road. They also enable businesses to quickly scale their fleets in size, and to expand them to include other vehicles too, in a similarly timely fashion.”
Dija launched in London early this year with $20 million seed funding, is an ultra-fast grocery delivery start up. Customers can choose from thousands of products at retail prices and have them delivered in ten minutes with the promise of no missing items and no substitutes. Dija currently serves customers in the London boroughs of South Kensington, Fulham, Hackney, Islington and Notting Hill. The company is also in the process of expanding to new locations across the UK and Europe.
Alberto Menolascina, Founder & CEO at Dija, said: “Our partnership with Zego will enable us to assume greater control over our cash flow, which in turn will enable us to prioritise our funds on things like international expansion and hiring. For a fast growing start up like ourselves, this is exactly the kind of flexibility that we need.”