- Through collaboration, QBE will underwrite motor insurance delivered through Beloy's digital-first embedded insurance solution supporting salary sacrifice schemes.
- Under the scheme, drivers receive a single bundled price that includes the vehicle lease, maintenance, breakdown cover, and insurance.
QBE, the international business insurer, today announced a new partnership with embedded insurtech broker Beloy to support businesses across the UK in offering electric vehicle (EV) schemes to employees.
Through the collaboration, QBE will underwrite motor insurance delivered through Beloy’s digital-first embedded insurance solution supporting salary sacrifice schemes, which provides businesses with real-time quoting, vehicle management and benefit tracking tools.
Under the scheme, drivers receive a single bundled price that includes the vehicle lease, maintenance, breakdown cover and insurance. Once a customer selects a vehicle and completes the process, the insurance premium is locked in for the full lease duration, which is typically 24 to 48 months. Insurance premiums are individually rated based on the driver & vehicle risk profile.
Jon Dye, Director of Underwriting, Motor, QBE Europe, said: "We’re pleased to partner with Beloy at a time when interest in salary sacrifice schemes is growing rapidly. Beloy’s expertise in embedded insurance and ability to deliver scalable, compliant, and customer-centric solutions made them a natural fit to provide our customers with smarter, more accessible insurance solutions that support the shift to EVs."
VikasChhariya, Founder & CEO, said: "Salary sacrifice is a key driver of EV adoption, and Beloy is strongly positioned to accelerate this shift by making vehicles financially sustainable. We’re excited to partner with QBE to scale salary sacrifice and make EV access simpler and more affordable for UK drivers. QBE’s longstanding reputation in motor insurance, combined with their commitment to innovation and excellence in underwriting, makes them the ideal partner."