Zego & QBE partner on fleet risk solution

Commercial motor insurer, Zego, has partnered with QBE Insurance. The partnership is looking to deliver tech-enabled, behaviour-led fleet insurance products. QBE will initially underwrite Zego’s behaviour-led fleet product which makes use of telematics data to provide a fleet’s risk profile as well as sharing risk reduction tips. Smart move by QBE to leverage the commercial fleet opportunity to enhance its approach to telematics type offerings and develop some learnings which, at some point, will likely make their way into personal lines as they are overseas. For instance, in the US, Allstate has more than two million customers enrolled in telematics programs such as Drivewise and Milewise. In states where the plans are approved, 21% of auto customers are currently enrolled and 35% of new Allstate auto customers choose the plans.

In Australia, we see KOBA Insurance pushing the boundaries but I cant see much from the big players. Will this prove to be a strategic mis-step?

Source: ffnews