A large part of Zego’s business is in being the insurance partner to ride-hailing providers, and this is where our engagement was focused.
At the core of Zego’s business are the principles of Simple, Smart and Fair. It is these principles that underscore the mission of Zego to provide flexible insurance products to gig economy workers.
We were brought in by Zego to turn new opportunities into longer term strategies, working across two projects concurrently—ride hailing as we detail here—and exploring opportunities for Zego in telematics. The world changed around this project with the worldwide Covid-19 pandemic, so our focus shifted to working on a strategic plan, and an accompanying product roadmap for Zego to weather the storm and emerge stronger.
Like all businesses, insurance or otherwise, the pandemic had a dramatic effect on the business and the behaviour of its customers. It was against this backdrop that the project was initiated, with a revised brief produced, and a plan of attack for how Zego could reignite its ride-hailing business post pandemic was formulated.
The impact of COVID-19 has been enormous on customer behaviour, and therefore also on vendors. At the time of the project, there was no clarity from the UK government on how long restrictions would be in place, no exit plan that would point to how a return to economic normalcy would be achieved. With no precedent for the crisis, any modelling for future states are prone to unreliability.
