QIC Insured launches ‘Pay How You Drive’ insurance

QIC Insured has announced the launch of a “Pay How You Drive (PHYD)” car insurance product based on a platform developed together with Qatar Mobility Innovations Centre (QMIC).
The new product is based on a mobile solution for the iPhone/iOS platform (and soon Android), which registers the driving behaviour of a motorist and rates the driving on a scale
from 0 to 100.
“Supporting road safety is a key element for QIC Insured and Qatar Insurance Group. So, we see this initiative as a natural extension of our current road safety activities,” said Salem al-Mannai, deputy group president and CEO, QIC (Mena region).
Abdulaziz Ahmad al-Khal, chief commercial office (deputy CEO), QMIC, noted: “We are pleased to partner with QIC on this first-in-Middle East-PHYD initiative and provide the technology enablement through our applications. The launch of PHYD services is a major milestone for our joint efforts to offer Qatar innovative solutions for improving road safety and it falls perfectly in line with our strategy, Roadmap to Zero.”
In order to get cheaper car insurance, the driver has to demonstrate an overall driving score of more than 94%.
Elaborating on this, Frederik Bisbjerg, executive vice president - Mena retail, QIC, said: “There’s no downside to this. If you’re not able to achieve the 94% score, your car insurance premium will not increase – this only has a positive side, namely the additional discount.”
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 is still being monitored to further refine the products and scoring in the future, according to a statement. The next step is to expand the offering to other phone systems other than the iPhone.
Instructions on how to download, register and use the app can be found at www.safedriver.qic-insured.com
As a supporting initiative and to attract more attention towards safe driving in Qatar, QIC Insured has launched a monthly competition where the three safest drivers will be awarded grand prizes.