Drive Smart, Pay Less: How Your Habits Can Lower Your Car Insurance Costs

Usage-based insurance offers personalized, fairer pricing based on your driving habits

- Sharad Mathur

As the pace of digital adoption gathers momentum, industries across the globe are ramping up product innovation to exceed the ever-evolving customer needs and preferences. One such example is the insurance industry, which is reinventing itself by embracing technological advancements such as artificial intelligence (AI), machine learning (ML), and real-time data analytics to introduce highly personalized, customer-centric insurance solutions.

The introduction of usage-based insurance (UBI) solutions in the motor segment has been the highlight of the recent past—warranting a closer look at how data-driven, customized offerings benefit those with frugal vehicle usage and safe driving habits, while simultaneously promoting more responsible behavior on the road and encouraging better risk management for insurers.