Pay-as-you-drive car insurance can save drivers money – 'customers always in control'


Around 76 percent of drivers said they would prefer to have connected services included in their next vehicle. PAYD insurance bases the premiums on how well and how long they are on the road for.

Because of evolving technology, motorists are constantly adapting to new automotive and connected data solutions designed to make driving easier.

Mark Aryaeenia, CEO at Verex Group, said drivers are now expecting more tech solutions from their vehicles to benefit them as much as possible.

Speaking to Express.co.uk, he said: “The connected technology in these vehicles now means that the manufacturers can start delivering a portfolio of additional services to their customers that they couldn’t before.

“It’s moving much more to a digital experience. A much more intimate experience, that’s where the manufacturers are trying to go, so they’re factoring that into the customer experience as well.

“This is giving the customer the control to flex in and out of a portfolio of connected products to meet their own preferences and lifestyle choices.”

The survey found that 81 percent of drivers said they would be happy for their next vehicle to monitor their driving if it was going to “save them money or help in an accident”.

This shows a huge shift in consumer awareness and willingness to share their connected data in order to save money on insurance and benefit from a better customer experience.

Verex Group offers a range of services to their network of 16 UK vehicle manufacturers including Usage Based Insurance (UBI) and Pay As You Drive (PAYD).

Mr Aryaeenia continued, saying: “Let’s just be frank, no one gets thrilled about insurance, it’s just a necessity and legal requirement.

“I think ultimately it’s really the case of allowing customers to decide when and how they choose the type of insurance product or service that matches their needs.

“It’s not something drivers have ever got excited about, but if we bundle it with a package of other connected services, it makes it a more engaging and convenient solution.

“But there’s a growing trend around people flexing in and out of different types of insurance products, some short term, some usage based, and even pay how you drive products.

“It isn’t just for younger drivers anymore; people of all ages are interested. Why wouldn’t they be, it’s a more affordable and relevant insurance option.

“Customers are always in control of their data, the data rules through GDPR allows them to control what they share and what they don’t want to, and consumers shouldn’t forget that.”



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