Do you break until inches from a car? Do you weave in and out of traffic? Do you corner at 90kmh? If you do you may want to reconsider your driving habit. This is because you may have to fork out a higher insurance premium for risky driving. Why you ask? Continue Reading.
In our previous post about DiGi’s iFleet, we wrote on how DiGi has entered into the IoT space with their vehicle tracking solution. Now we have a glimpse of how it will work in the area of car insurance.
Latest news have revealed that DiGi will be offering iFleet to car insurers for them to evaluate drivers. This evaluation will come in the form of Usage-Based Insurance (UBI). This simply means that car insurers can now charge a higher premium if you are labeled as risky, and a lower premium if you’re a safe driver.
iFleet acts as the platform that allows Usage-Based Insurance to be possible. This is done by having sensors in the cars that can record the driving speed, breaking habit, and even how tight one corners a turn. The information gathered is relayed to the respective car insurers and from there your profile is evaluated and a customized insurance plan is provided.
Drivers under this new scheme will no doubt watch their driving habits. And this will hopefully create a safer environment on the roads.