AXA Affin General Insurance Bhd has launched AXA FlexiDrive which is Malaysia’s first telematics-based motor insurance. It uses a special tracking device installed in the vehicles along with a mobile App. This helps the drivers and the insurance company to better understand the driving behavior.
The company offers discounts of up to 20% upon renewal of a motor insurance policy with AXA Affin depending on the driver’s behavior that takes into consideration speed, mileage, and harsh driving.
Users are required to pay a security deposit of RM70 for the telematics device but devices that are in the market or already installed in vehicles would also be accepted provided they meet a certain technical standard and is compatible with the system.
The additional benefit of the telematic technology is that it gives users enhanced safety on the road. In the event of accidents an alert is automatically triggered and upon verification, an emergency medical assistance can be provided to the exact crash location.