IronRock insurance company through the introduction of telematics insurance in the country yesterday launch its pay as you drive (PAYD) initiative aimed at refunding up to 25 per cent of annual premiums to customers as a reward for good driving.
“PAYD is a motor policy that is actually designed to give our drivers rewards for safe driving. It’s based on how you drive and how much you drive and not just traditional factors such as age and occupation. It is rooted in telematics insurance which is a form of technology that uses GPS and motion sensors to monitor driving behaviour,” said Christian Watt, general manager of marketing and production at IronRock, during a virtual launch held by the company.
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