United General Insurance Company Limited (UGI) has partnered global vehicle tracking services company, Ctrack, to provide insurance telematics services to its customers.<\/p>\n
In a statement released on Thursday, UGI said the partnership will allow UGI customers to enjoy car tracking services from Ctrack.<\/p>\n
Under the agreement, Ctrack will provide UGI with its proprietary Pay How You Drive model. This usage-based insurance model gathers data related to driver behaviour and accidents.<\/p>\n
\u201cThe data gathered will be used to reduce claims loss ratios, reduce the frequency and severity of claims, and minimise fraudulent claims pay-outs. Reduced claims outlay will translate in low premiums, and customers will be assured of safety,\u201d UGI said.<\/p>\n
The statement also indicated that driver behaviour is one of the main causes of road-related accidents worldwide.<\/p>\n
\u201cIn Malawi alone, it accounts for around 90 percent of all accidents, with speeding, fatigue and driver distraction named as the main causes. By embracing the insurance model, UGI aims to encourage its customers to become safer and more responsible drivers,\u201d reads part of the statement.<\/p>\n
Insurance telematics is increasingly being seen as a tool that will have a major impact on the auto insurance business over the next decade.<\/p>\n
Ctrack\u2019s International Channel Manager for Africa, Johannes Oberholzer, said unlike the traditional models, Ctrack\u2019s insurance telematics solution gives insurance providers an insightful, real-time and accurate assessment of driving behavior.<\/p>\n
\u201cDriver behaviour monitoring is fundamental to this model and provides for an ongoing, personalised dialogue between insurers and policy holders. Our offering will transform UGI\u2019s relationship with their customers from necessity to one of mutual benefit,\u201d Oberholzer said.<\/p>\n
Ctrack is part of Inseego Corporation. Its operations span six continents in over 55 countries, with more than 1,000,000 systems sold worldwide.<\/p>\n
With over 30 years\u2019 experience, Ctrack has been keeping mobile assets of consumers, small and mid-sized businesses and large enterprises always visible, resulting in vehicle security, safer driving and more efficient fleet operations.<\/p>\n","protected":false},"excerpt":{"rendered":"
United General Insurance Company Limited (UGI) has partnered global vehicle tracking services company, Ctrack, to provide insurance telematics services to its customers. In a statement released on Thursday, UGI said the partnership will allow UGI customers to enjoy car tracking services from Ctrack. Under the agreement, Ctrack will provide UGI with its proprietary Pay How […]<\/p>\n","protected":false},"author":3,"featured_media":39479,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-39474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/39474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=39474"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/39474\/revisions"}],"predecessor-version":[{"id":39481,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/39474\/revisions\/39481"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/39479"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=39474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=39474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=39474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}