Cassava Smartech’s insurance product, Moovah, has introduced a new vehicle insurance product, Pay As You Drive(PAYD) which allows the payment of motor insurance premiums based on driving behavior.
PAYD insurance product gives drivers control over their premium costs. Moovah is looking to address this by offering users motor vehicle insurance that is based behavioral data, demographic and mileage.
Information from Moovah’s website shows that the insurance provider will be collecting all this data through a vehicle tracker installed in the car.
The tracking device is freely installed in one’s vehicle upon signing up and after signing up one can get free vehicle towing services.
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