Citroën India has announced its partnership with ICICI Lombard to introduce Usage Based Insurance (UBI) on the eC3.
UBI is connected with the vehicle usage as well as the driving behaviour of the driver over the insurance term, and the renewal premium is calculated based on the driving scores as per the evaluation of the same by the insurance company. This empowers customers to embrace safe driving practices and rewards them with potential savings on insurance premiums.
Under UBI, drivers with high scores can save on insurance renewal premiums. Customers will also have access to driving scores periodically and get tips to improve their driving behaviours.
Saurabh Vatsa, Brand Head, Citroën India, noted that the UBI revolutionises the way insurance is perceived, placing the power of premiums into the hands of responsible drivers.
Sanjeev Mantri, Executive Director, ICICI Lombard General Insurance, stated that the introduction of the UBI model disrupts traditional insurance paradigms and empowers and rewards customers with lower premiums for good driving behaviour.
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