Tata AIG General Insurance Company Limited today launched its new telematics-based application and device ‘AutoSafe’ which allows policyholders to save on premiums by selecting the kilometers driven and also serves as an anti-theft device. Autosafe is available on all policies offering personal accidental cover to the tune of Rs 15 lakh for owner and driver. The app tracks distance travelled by the vehicle, live speed and other driving pattern parameters and offers bonus kilometers for good driving behaviour at the time of the renewal.
Tata AIG maintains that the usage-based insurance (UBI) private car policy for car owners, launched under the IRDAI’s Regulatory Sandbox, offers a customised solution based on driving profile. This policy includes other value-added propositions like depreciation reimbursement, daily allowance, no claim bonus protection cover etc.
Tata AIG AutoSafe highlights:
Policyholders will benefit from the policy’s flexible km-based package that enables savings on premiums compared to conventional policies. Policyholders can choose between 2,500 km, 5,000 km, 7500 km, 10,000 km, 15,000 km and 20,000 km.
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 km, 1000 km and 1500 km, thus, helping savings on cost based on usage.
The Tata AIG AutoSafe 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.
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