Zego Reports Strong Results and Launches New Consumer Insurance Product

Insurtech leader Zego has significantly strengthened its financial position in 2024, cutting its net loss to £4m – a substantial improvement from £34m net loss the previous year.

The company returned to monthly profitability by year-end and has maintained strong momentum into 2025, setting the stage for continued growth and innovation.

Alongside profitable underwriting performance and improved customer outcomes, Zego also expanded into the personal car insurance market, giving more drivers greater control over their premiums and making insurance more accessible.

2024: A breakthrough year for profitability and growth

Zego reached monthly profitability in December 2024 – a major milestone in its financial journey.

This was driven by disciplined portfolio management, pricing changes to exit underperforming segments, and a group net loss ratio improvement to 56.5% (down from 59.2% in 2023).

Scaling responsibly in 2025 through innovation and efficiency

That momentum has continued into 2025. Year-to-date1 Zego has delivered a 40% revenue growth, strong cost discipline, and improved reinsurance terms that boost capital efficiency.

As such, the company continues to scale responsibly, with technology and app-based telematics at the centre of its model. In February 2025, the company launched social, domestic and pleasure car insurance designed for new drivers, which has already seen strong uptake and clear demand from drivers.

It also introduced a new Rest feature to the Sense app to tackle one of the most overlooked risks on the road: driver fatigue. Built with proprietary app-based telematics, Rest promotes safer driving by offering real-time feedback and personalised premiums that reward rest and responsible behaviour.

As adoption of app-based telematics accelerates, most of Zego’s ride-hailing and van customers – along with every personal car policy – are now powered by the technology.

Powering progress with AI-first operations

At the same time, Zego’s AI-first approach is transforming how the business operates. By embracing automation and intelligent design, the company has maintained a lean operating model, scaling efficiently while delivering greater value to drivers.

By embedding AI across its operations, the company has achieved a 25% reduction in call volumes, with 60% of customer queries now resolved without human intervention. This shift has driven customer satisfaction from 61% to 77%.

Beyond support, AI is powering innovations like instant claims payments and real-time engagement through digital channels such as WhatsApp – creating faster and more seamless interactions for every driver.

With ambitious targets for the next five years, Zego plans to fuel its continued growth through a combination of strong underlying profits and strategic external investment.

Sten Saar, CEO at Zego, said: “2024 was a defining year for Zego – we reached profitability and have carried that momentum into 2025. I’m proud of how we’re scaling responsibly, fuelled by innovation and our clear purpose: making good drivers better drivers.”