Zuno General Insurance has launched a coverage option available for Private Car Package and Private Car Stand Alone Own Damage Policy (SAOD) Customers, Pay How You Drive.
It empowers users to assess their driving skills, receive an objective called Zuno Driving Quotient, and earn rewards for safe driving.
Pay How You Drive offers an objective assessment of driving behaviour through mobile telematics embedded in the Zuno app. Customers can monitor their driving scores after each trip, gaining valuable insights into their performance and progression towards safer driving habits. While the score is readily available post-trip, and customers also have visibility to the discount applicable for different ranges of scores, the exact discount percentage applicable to the total premium amount is also revealed during renewal, ensuring transparency and clarity for customers.
Zuno claims to be the first company to explore usage-based insurance in India and has always been developing innovative products, especially around usage-based insurance. This is the extension of its first UBI offering ‘Switch’. This is the first time any company has used ‘driving behaviour’ to personalise car insurance premiums in the country.
By offering discounts of up to a significant percentage on insurance renewal premiums, the Pay How You Drive add-on not only encourages safe driving practices but also actively incentivises good driving behaviour through discounts offered during renewal.
"This will also give customers greater control over their insurance pricing, personalising it which will be a departure from the current pricing approach," said Shanai Ghosh, MD and CEO, Zuno General Insurance.