Zego has been recognised with two major industry awards, winning Claims Initiative of the Year at the National Insurance Awards 2024 and the Contribution to Inclusion (Corporate) award at the inaugural Women in Insurance (WIN) Awards Gibraltar 2025. These accolades highlight Zego’s commitment to both operational excellence and fostering an inclusive workplace.
The Claims Initiative of the Year award follows Zego’s transformative journey, which began in July 2022, when it transitioned from a fully outsourced claims service to a best-in-class in-house operation. Within 18 months, the company successfully built a dedicated claims team of 74 specialists, implemented cutting-edge technology, and significantly reduced claims processing times.
This transformation introduced real-time payments, allowing customers to receive funds within seconds of approval rather than the industry norm of three to five days. The integration of WhatsApp enabled seamless document submission and real-time updates, making the process more convenient for policyholders. Zego also enhanced fraud detection and cost control by reducing claim leakage from 22% to 1.5%, delivering substantial operational savings and improving claim handling outcomes. Additionally, the implementation of an API-first claims management system enhanced automation, scalability, and efficiency, setting a new industry benchmark for claims processing.
At the Women in Insurance (WIN) Awards Gibraltar 2025, Zego was also honoured with the Contribution to Inclusion (Corporate) award for its significant efforts to foster diversity and inclusion within the industry.
Over the past year, Zego’s carrier, Extracover Insurance Company Limited (EICL), has significantly increased female representation in its workforce, with women now making up 40% of the company. The appointment of Julia Hillman as a non-executive director has further strengthened the leadership team, bringing regulatory expertise and championing diversity.
As part of its ongoing commitment to fostering inclusivity, EICL is actively working towards increasing female representation at the board level from 20% to 40% in 2025. Additionally, the company has reinforced ties with its UK entity to foster a ‘one team’ culture that values contributions regardless of gender, sexuality, race, or background, ensuring a more diverse and equitable workplace.
Commenting on the double win, Sten Saar, CEO of Zego, said: “These awards are a testament to Zego’s unwavering commitment to both innovation and inclusion. Our in-house claims transformation has revolutionised efficiency and customer experience, ensuring faster payments and seamless support. At the same time, we recognise that true progress comes from building an inclusive culture – one where diversity fuels innovation and business success.
“Being recognised for both our operational excellence and our commitment to inclusion is an incredible honour, and we will continue to push the boundaries of insurtech while ensuring our workplace reflects the diversity of the world around us.”
By setting a benchmark for both technological advancement and workplace inclusivity, Zego continues to shape the future of insurtech, reinforcing its position as an industry leader.
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