Drive Master applies telematics innovation via a free smartphone application to automatically track and assess drivers’ speed, manoeuvres, drive time and mileage.
Motor insurance giant NTUC Income has launched two schemes which offer drivers discounts if they drive well or drive less.
Income’s Drive Master is a smartphone-based app that tracks what time of day a motorist is on the road, the distance he clocks, whether he keeps to speed limits, and if he accelerates or brakes hard.
The application will award the driver a cumulative score which is updated after each drive, and under Drive Master, those who achieve an average score of 70 and above will enjoy savings of between 5 percent and 20 percent on their motor insurance premiums.
Based on scores accumulated for the four factors, a driver will be given discounts of between 5 percent and 20 percent on his insurance premium.
The company’s FlexiMileage scheme uses a black box device which is plugged into the car. It tracks how many kilometres a driver clocks a year. Those who clock no more than 9000km stand to save 20 percent, while those who clock less than 5000km could be granted a 35 percent discount.
Income vice-president of motor insurance Bill O’Connell said Drive Master “allows drivers to be more aware of their driving behaviour, ultimately giving them the ability to influence their insurance premiums”.
Drivers participating in FlexiMileage must install the telematics device in their private cars, which will capture the mileage travelled by the vehicle.
In May, another motor insurer introduced a similar scheme, but only for private-hire drivers. AXA’s pay-as-you-drive policy for Grab drivers varies premiums based on mileage clocked.
In January, MSIG Singapore also launched a trial to reward safe drivers with discounts of up to 20 percent. It tracked their driving behaviour via a device installed in the car.
