Zego

Executive Summary

Zego is a British technology firm that sells flexible insurance to freelance workers and delivery companies. They focus on people who work for apps or manage groups of vehicles. Their main products allow drivers to pay for insurance only while they are working or buy yearly plans for cars and scooters. They stand out from older insurance firms by using live data to change prices based on how much a vehicle is used. Zego earned about $150 million in revenue during 2023. This shows they are growing fast as more people take gig jobs. However, they lost about $30 million in profit because they are spending so much money on new software and moving into new regions. Their strengths are their modern tools and focus on a specific niche. One big challenge is the crowded market of other tech startups. Selling stock to the public would be a major step for the British tech scene and would give them more cash to grow.