Liberty Videocon General Insurance is to launch a new telematics project to track user behaviour. In a pay-as-you-drive concept, this will allow policyholders to get better pricing on their insurance policy if they exhibit good driving skills.
Liberty Videocon had made an attempt to launch a telematics project in 2013 also but could not succeed . But this time the company will be using RFID stickers on the windscreen and mobile-app based tracker to monitor driving patterns. The company aims to give its customers a better deal by tracking driver behaviour and giving them customised service.
Liberty Videocon claims that it has improved on every front has grown its capital from Rs 350 crore to Rs 984 crore. It has also increased policyholder base from 6 lakh customers from 52,000 earlier.