Insurance company, MSIG, has launched a telematics device and the MSIG Connected Car app to encourage safer driving in Singapore.
At the end of every journey, drivers will receive an overall score through the mobile app based on the distance, speed and driving style, which includes cornering, acceleration and braking. The scores will fall under four color-coded bands,with Green indicating the safest, followed by yellow, orange and red (unsafe).
The app will also notify drivers of unsafe driving actions at the end of the each trip.
Besides that, drivers can use the app to locate their vehicle in Singapore. They can also opt to enable the location service in West Malaysia.
Drivers who sign up for MSIG's new telematics-based motor insurance scheme, known as UMax, will receive free installation of the telematics device and gain access to their driving data through MSIG Connected Car app.
According to the insurer, UMax is a 'Pay How You Drive' model and reward customers based on their driving performance.
In the first year, the premium will still be based on the existing pricing method using a combination of factors such as the vehicle make and model, driver's profile and claims history. Driving data will be assessed 60 days from the policy commencement date.
In the unfortunate event of an accident, drivers can bring down their own damage excess by 50 percent if they have achieved a driving score within the Yellow band in a 30-day period before the accident, or even a complete waiver of the excess if their score is within the Green band.
"With the excess adjustment, drivers can literally reduce their excess to zero if they maintain an excellent driving score," said Jeremy Lian, Senior Vice President of Technical Services, MSIG Singapore.
The launch of the telematics device, MSIG Connected Car app, and UMax follows the success the of the six-month pilot study in early 2016, which tested the feasibility of using telematics in Singapore. Out of the 100 participants, 85 percent of them said that telematics had encouraged them to be safer drivers.
"It is our mission to help secure a sustainable future for the community at large. Traffic safety is an important topic in Singapore where there is increasing usage of roads, by both pedestrians as well as vehicle owners. We wish to play our part in raising awareness of this issue and to also positively impact driver behaviour through the use of technology," said Alan Wilson, Regional CEO, MSIG Holdings (Asia).
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