QBE North America has new custom property coverage targeted to mid-sized companies. Mobility insurance provider Zego is partnering with a company to help expand its fleet offering of e-mopeds, e-scooters and e-bikes across Ireland.
QBE North America is unleashing new custom property coverage targeted to mid-sized companies with a number of flexible, tailored options.
The insurer said its QBE Custom Property product is based on feedback from brokers and customers as well as a comprehensive market analysis supported by artificial intelligence. It contains 33 additional coverages, 50 Property endorsements, and 22 Crime endorsements.
Highlights of the new product offering include a first party cyber coverage endorsement, crime coverages, CAT capacity availability, customizable rates on a per location basis and dependent property coverage.
QBE Custom Property is initially available in 29 states for new business policies effective March 1 and renewal policies effective April 1. QBE plans to expand the product to all 50 states, subject to regulatory approvals.
Irish mobility startup Brite has partnered with London-based 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. Zego, founded in 2016, specializes in usage-based insurance for fleets, tailored for businesses, priced on how the fleet is actually used, not guess work.
Sources: QBE North America, Zego/Brite