Qatar- Car insurance premium linked to driving

3/29/2016 9:50:52 PM

(MENAFN- The Peninsula)

DOHA: A motor insurance product is now available which allows a motorist to pay the premium based on how safely he or she drives.

QIC Insured has come out with the novel scheme to further contribute its bit to efforts being made to help improve road safety in Qatar.

The product ‘Pay How You Drive’ (PHYD) is based on a platform developed together with Qatar Mobility Innovations Centre (QMIC).

It is a mobile solution for the iPhon/iOS platform and soon an Android platform would likely be available. The platform registers the driving behaviour of the motorist and rates his or her driving skills on a scale of 0 to 100.

To get cheaper car insurance the motorist has to demonstrate an overall driving score of over 94 percent.

“There is no downside to this. If you are not able to achieve 94 percent your car insurance premium will not increase. This has a positive side — additional discount” said Frederik Bisbjerg Executive Vice-President Mena Retail. In a statement yesterday he said: “We are ready to take the experiences from the users to the next level and begin pricing our comprehensive insurances after how safe people drive.”

Salem Al Mannai Deputy Group President and CEO QIC-Mena Region said: “Supporting road safety is a key element for QIC Insured and Qatar Insurance Group so we see the initiative as a natural extension of our current road safety initiatives.”

Abdulaziz Ahmad Al Khal Chief Commercial Officer (Deputy CEO) QMIC said: “We are pleased to partner with QIC on this first-in-the-Middle East-PHYD initiative and provide the technology enablement through our applications

“The launch of PHYD is a major milestone for our joint efforts to offer Qatar innovative solutions for improving road safety in line with our strategy Roadmap to Zero.”

Last year the company introduced ‘How Is My Driving’ app in partnership with QMIC which allows motorists to share how safely they drive and compete with one another and on Facebook. “Since its launch in December we are delighted with users and downloads which are several thousands” Bisbjerg said.

This is the first time in the Middle East that a car insurance premium is directly related to the actual driving behaviour and the app and premium structure are being monitored to further refine the products and scoring.

The next step is to expand the offering to other phone systems rather than the iPhone. Instructions on how to download register and use the app can be found on www.safedriver.qic-insured.com

To support road safety campaigns QIC Insured has launched a monthly competition with grand prizes for three safest drivers. “We believe that we as a leading national insurer play a vital role in making the roads safer by awarding safe drivers with discounts on their car insurance premiums” said Al Mannai.

The Peninsula

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