Europe Fintech

Insuretech Company By Miles Announces 5-Year Agreement With Zurich UK

A recent announcement highlights a new partnership between Zurich UK and By Miles, a leading insurtech in usage-based insurance (UBI). Beginning in August 2020, Zurich will underwrite its motor policies in a 5-year agreement.

By Miles is the first company in the UK to offer real-time pay-as-you-drive insurance, with its policies aimed at those who drive under 7,000 miles a year. Instead of paying a traditional annual premium, customers still get comprehensive cover, but pay a low fixed amount upfront to protect the car whilst parked (protecting cars against theft, accidental damage and vandalism), and pay monthly based purely on how many miles they drive, to cover them whilst on the move. All policies also include No Claims Bonus protection at no extra cost.

A smartphone app measures journeys using a self-fit matchbox-sized telematics device called a Miles Tracker, enabling drivers to instantly see the cost of each trip. In addition to accessing their own trip cost data, the app also offers customers live chat support, self-service policy changes (with no admin fees) as well as an expanding range of additional services including a find my car tool, diagnostics scanner and reminders if you’ve crossed into ULEZ (Ultra Low Emissions Zones) or Congestion Charge areas during a trip.

The partnership is part of Zurich’s wider strategy of working with distributors who offer innovative but scalable propositions and also reinforces the insurer’s commitment to sustainability in targeting a lower mileage customer segment, particularly relevant with the inevitable change in consumers’ driving habits post-Covid-19.

Phil Ost, Head of Personal Lines at Zurich, said: “We’re delighted to be partnering with By Miles today. As well as being impressed with their innovative proposition and high level of customer experience for what is an under-served segment, it’s their ability to deliver on their plans since launching in 2018 that really stands out. An alternative, usage-based solution is more important now than ever, as we see a clear shift in how consumers will use their cars post lockdown. And in incentivising those who drive fewer miles, the partnership with By Miles is a firm reinforcement of our commitment to sustainability.”

James Blackham, CEO and co-founder of By Miles, said of the partnership: “Zurich are a highly experienced insurer with an outstanding record for claims expertise, boasting a 99% payout rate on claims in 2019. Partnering with Zurich will give our members the peace of mind that they’ll be protected by the best if the worst happens.

“We’ve seen demand for our pay-by-mile policies continue to increase as UK drivers, understandably, look for more flexible insurance cover that better fits their needs post-lockdown. Having had our strongest ever sales month in July, this partnership will support our continued growth.”


  • Gina is a fintech journalist (BA, MA) who works across broadcast and print. She has written for most national newspapers and started her career in BBC local radio.

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