KUALA LUMPUR: Usage-based Insurance (UBI) is a platform that is no longer foreign in this “Internet of Things” (IoT) world.

However, not many in Malaysia are familiar with this mechanism to give value to vehicle insurance, which helps to create safer roads and save more lives.

UBI will allow insurance companies to acquire driving behavior data which then will help them curate better insurance programmes.

Today, three insurance companies Allianz Malaysia Bhd, Etiqa Insurance Bhd and Etiqa Takaful Bhd have paved its way to boost adoption of UBI in Malaysia.

The three insurers signed a Memoranda of Understanding (MoU) with a local start-up, Pixelated Sdn Bhd (KATSANA) which will allow insurers to develop UBI products for their customers.

In addition, the parties involved will work together with KATSANA to improve its newly launched DriveMark telematics app as means to collect driving behavior data.

KATSANA managing director and co-founder, Syed Ahmad Fuqaha Syed Agil, said the collaboration is important for all parties involved as it helps to promote a progressive and transparent UBI approach.

“We work together to analyse the data, to understand what’s the actual risk of drivers in Malaysia.

“And we use this data to help them become safer drivers on the road and offer them rewards for good behaviour.

“We hope this is going to be a social movement where KATSANA and drivemark, together with our insurance partner in Axiata become the catalyst for safer driving in Malaysia,” he said.

Article from: Astro Awani

Get rewarded for driving safe

Get rewarded for driving safe

Download Now!

Download on Google Play Download on App Store Play

Similar Articles

DriveMark now protects the life of safe drivers

Good news everybody! We woke up last month with a dream. DriveMark should not just encourage and reward safe drivers. We want to go a step further; DriveMark should also...

Your Friends Can Be Heroes Too!

Hello Heroes! You know we already love you for keeping Malaysia road safe. You also know our fantastic challenges with super fantastic rewards. But, you know what more best? To...

Senarai Kereta Murah Baru, Selamat Malaysia 2021

Kereta murah baru…tapi selamat. Ada ke? ADA. Sikit lagi kita dah nak masuk tahun 2021. Tahun baru, kereta baru? #eh Setiap orang mesti ada keinginan untuk memiliki kereta tersendiri. Dah...

Chinese New Year #DriveSaferLah Challenge!

Hello Heroes!Ā Chinese New Year is next week only. To start off the daji dali, we are having a special #DriveSaferLah Challenge! It is super special because for this challenge we...

Temui DriveMark di Kuala Lumpur Run 2017

Drivemark telah berkolaborasi dengan Hausboom semasa Kuala Lumpur Run 2017 yang diadakan pada hari Ahad, 13 Ogos 2017. Para peserta bersama pingat yang dimenangi. Team Drivemark mempromosikan app Drivemark yang...

ā€˜DriveMarkā€™ Inisiatif KATSANA Melahirkan Lebih Ramai Pemandu Berhemah

KATSANA bersama Allianz Malaysia, Etiqa Insurance Berhad, Etiqa Takaful Berhad dan Axiata Business Services Sdn Bhd Selasa lalu menandatangai perjanjian bersama untuk satu kolaborasi memperkenalkan usage-based insurance (UBI) di Malaysia....