Page 20 - Insurance Times December 2020

International

Aon launches lease with figure is also multiplied by kilometres support safer, greener driving
telematics-based pay-per- driven to calculate the total monthly behaviours by providing drivers with a
dashboard of their performance behind
charge.
use insurance Flee will monitor mileage via the the wheel, including fuel consumption
Global insurance broker Aon has telematics system - if the car hasn't and incidents of harsh acceleration,
launched a personal car leasing prod- moved, the variable insurance element cornering and braking, as well as ex-
uct that includes pay-on-use insurance, of the rental is zero. ceeding speed limits.
giving customers the advantage of sav- "If, on the other hand, you travel, the Alberto Falcione, Targa Telematics vice
ing money when they are not driving. variable part will be the value of the president of sales, said: "Telematics and

The company will adjust its insurance kilometres traveled for the cost per data analysis and management are cru-
premiums according to how far a car kilometre indicated," said Aon. "If you cial to implement truly innovative solu-
is driven, using a telematics system to travel a little more, don't worry be- tions able to effectively respond to
track cars. cause you never pay more than the changing customer needs. We provided

Called Flee, the product has been de- maximum amount indicated in your Aon with our expertise, our automo-
tive-specific IoT platform and a wide
signed for the employees of Aon's busi- quote." choice of software modules and micro-
ness clients, and tailored to meet the Gabriele Ratti, director of Aon Mobil- services, with the aim of helping them
needs of the 'new normal' as workers ity Solutions, said: "We started from an implement a new mobility solution."
prefer to avoid public transport and innovative insurance product with high
mix working between office and home. added value and, collaborating with General insurance busi-
Launching Flee in Italy, Aon said the sector leading partners, we have cre-
cars will be supplied by ALD Automo- ated an offer that goes beyond insur- ness in Malaysia to con-
tive Italia on 36, 48 or 60-month con- ance, providing the end customer with tract by 2.2% in 2020 due
tracts, including maintenance, road tax an integrated mobility service." to COVID-19
and breakdown assistance, for fixed ALD Automotive Italia, which has a
monthly rentals. fleet of almost 190,000 vehicles, said The Malaysian general insurance in-
But drivers will have the option of a flexibility was high on the agenda of dustry is expected to contract by 2.2%
in 2020, primarily due to weak con-
flexible premium for fully comprehen- private drivers, freelancers and com- sumer demand and suspension of eco-
sive insurance cover. The premium is panies as they deal with business un- nomic activity due to the lockdown
based on a fixed cost per kilometre certainty. The leasing company added restrictions in the aftermath of COVID-
multiplied by the total distance driven that Flee opened: "a new frontier of 19 pandemic, according to GlobalData,
in a month. There is also a small vari- pay-per-use." a leading data and analytics company.
able monthly fee for extra Flee ser- Targa Telematics will provide the ve-
vices, such as booking a service and hicle tracking technology that captures GlobalData has revised Malaysia’s gen-
maintenance and for claims assistance the data for the pay-per-use insur- eral insurance forecast in the after-
in the event of an accident. This fixed ance. The same technology will also math of COVID-19 outbreak. As per
The Insurance Times, December 2020