MUMBAI: TATA AIG General Insurance Company Limited launched an innovative telematics-based next-gen application and device ‘AutoSafe’ today. The app helps policyholders to save on premiums by selecting the kilometers driven, promotes safe driving, works as anti-theft device as it comes with a GPS-based tracking facility. Available on all policies offering personal accidental cover to the tune of Rs. 15 lakhs for owner and driver, this app also tracks distance traveled by the vehicle, live speed and other driving pattern parameters and offers bonus kilometers for good driving behavior at the time of the renewal, thus, promoting safe driving habits.
The usage-based insurance (UBI) private car policy for car owners, launched under the IRDAI’s Regulatory Sandbox, is personalized, affordable and offers a customized solution towards your driving profile. This policy includes other value-added propositions like depreciation reimbursement, daily allowance, no claim bonus protection cover etc.
Policyholders will benefit from the policy’s flexible kilometer-based package that enables savings on premiums compared to conventional policies. Policyholders can choose between 2,500 kilometers, 5,000 kilometers, 7500 kilometers, 10,000 kilometers, 15,000 kilometers and 20,000 kilometers. Customers having exhausted all the kilometers within the policy period can buy additional kilometers by opting for the top-up kilometers option. They can choose between 500 kilometers, 1000 kilometers and 1500 kilometers, thus, helping savings on cost based on usage.
The ‘Auto Safe’ device is GPS-enabled and is linked to a mobile app that records all information, tracks the distance traveled and generates reports about vehicle health or driving patterns of the policyholder. This telematics device or app is fitted or linked to the car as the motor insurance policy becomes active and must be kept throughout the policy period. The information collected is evaluated over time and each driver cum policyholder is allocated points based on performance. Besides, this device contains motion sensor support and generates fuel-saving reports apart from monitoring aspects like hard braking, nighttime driving and acceleration. Also, this device guards against fuel slippage and dangerous driving habits.
