Zego vs By Miles
What Konnecto identified
Gap identified: Zego is losing to By Miles for a subgroup of young men and women in the UK, working in gigs such as food delivery or car journeys before converting on By Miles, buying “Pay per Mile” car insurance.
According to StandOut CV, 1 in 7 adults in the UK has worked a gig job monthly. Gig workers contribute £20bn to the UK economy, the same as the aerospace industry. 7.25 million people are likely to work in the gig economy in 2022. And what do many of them have in common? They need proper insurance for their vehicle.
Those young gig economy workers (male and female, ages 18-34) begin their journey by searching Google for keywords such as ״pay per mile car insurance" or "personal and delivery driving insurance" before being redirected to specific Reddit, Inc. communities and YouTube channels, where they receive more information about the different insurance options.
While some of these consumers are being redirected to By Miles, RAC, Zego, and Cuvva, others continue their journey by searching Google for "best car insurance 2022" to read more reviews. In addition, many of these consumers continue to read Moneyfacts.co.uk's article, where By Miles is ranked as one of the top options.
These consumers often end up applying to get a quote from By Miles.