Several Founders, Co-Founders, CXO Bankers, CXO Fintech professional & people who participated in the ePanel discussions:
- Mr. Saurabh Soni, Founder & CEO, at DigiSparsh
- Mr. Sandeep Todi, Co-Founder & CBO, Remitr
- Mr. Ajay B Panicker, CEO & Founder, NetPay Limited
- Mr. Vikas R Panditrao, Co-Founder, Forum of Industry and Academic Knowledge Sharing (FIAKS)
- Many other CEO/CXO Bankers & Fintech professionals on FIAKS Forum requested to remain anonymous
Have you heard about Usage-based insurance (UBI)? What is it?
- Well, UBI is directly linked to the usage of the product/service insured. UBI is referred to as Telematics insurance in the car insurance industry.
- Through the use of telematics technology, a plug-in device or a pre-installed network in a vehicle or through mobile applications, a range of data such as how the vehicle is driven, the speed of driving, distance, fuel consumption, harsh braking, etc is collected is sent to the insurance company which keeps a track of such data and offers you additional discounts based on how good you drive.
Thereupon a member mentions, Isn’t the ‘insurance companies tracking’ post a concept which is commonly known as pay-as-you-drive for your insurance premium? Register and Read the complete discussions