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Insurance Telematics

Personalised insurance that rewards the insured driver based on their driving habits over the course of the insurance period. This means that the amount of premium you pay will be determined by how you drive.

It applies to clients under the Comprehensive Private Motor Insurance. It has two products: Pay as you drive and Pay how you drive.

Pay As You Drive (PAYD)

Rewards drivers who cover fewer kilometres each year with a discount on the following year’s premium. With ESRIC, only drivers who cover 30, 000 KM or less during the insurance period can be rewarded, according to the following schedule:

This product is ideal for individuals who live closer to work or those who have more than one vehicle as they cover fewer kilometres during the insurance period.

Pay How You Drive (PHYD)

This product rewards safe driving habits with cheaper insurance premiums. A score is calculated based on speeding, manoeuvring (acceleration, cornering, and harsh braking) and night driving. The total rating is calculated over the 12 months period of insurance.

The driver is evaluated across these 3 weighted factors and is given an aggregate score expressed as a percentage, with the minimum reward beginning at 75%.

Below are the categories and related discount levels:

We give you full control on the premiums you pay…

What you may be asking yourself;

  1. Can I take both products at the same time?

    Yes you can. The highest discount on each product is up to 15%.

  1. What if my car spends the better part of the insurance period not moving?

    You will automatically qualify for a discount on the on the PAYD.

  1. When do I get to enjoy the benefit?

    The low kilometres you clock this year will earn you a discount on your premiums at your next insurance renewal date.

  1. Can I take the product in the middle of the year and still qualify the discount at renewal?

    Yes, provided you still have 9 months remaining on your insurance period. The discount will be pro-rated for the 9 months period.
  1. How do I monitor my score between the insurance periods?

    You will have a secure website where you can log in and monitor your score and driving pattern.
  1. When I exceed the 30 000km or my driving score is less than 75%, am I penalised by paying more premiums?

    You will only loose the discount benefit. You will not pay more premiums.
  1. What If I claim during the year, do I forfeit the discount even if I drove well and covered less mileage?

    No. The discount benefits will not be affected by your claims.
  1. Will I forfeited my other discounts if I qualify for the PAYD and PHYD?

    No. Other discounts will be awarded normally. However, only on the first year will you forfeit the 15% tracker installation discount if you elect ESRIC to pay for installation. In subsequent years, your will earn all your discounts.
  1. What if I’m already at CFG9, will the discount be awarded if I take up this product?

    Yes. Clients at maximum CFG will be awarded this product discount.
  1. Who pays for the installation cost of the telematics gadget?

    Client can elect to install the gadget at their own cost and get the 15% tracker discount. If they elect that ESRIC pay for installation, they forfeit the tracker discount only on the first year.
  1. What are the costs of taking both the PAYD and PHYD?

    The costs remain the same. The one gadget installed can monitor both the PAYD and PHYD data to give your score.
  1. Are there any monthly subscription fees?

    Yes. You will pay the monthly subscription to the tracking company and you will get all the benefits of a tracker and the telematics value. Additions

Click here to download the Telematics brochure.

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