Sometimes Price Just Ain’t Enough

ALTIMA, the wholly-owned subsidiary of MAIF is introducing pay-per-minute car insurance.

The new policy is geared towards infrequent drivers, allowing for up to 20% savings on the annual premium. Starting at ~€25 a month, drivers select the coverage package they want (third party, comprehensive) and pay for each minute they drive. The telematics scheme is based on a mobile app, and a hardware device.

ALTIMA claims that this coverage is the first of its kind in France, as Paris-based Wilov only offers pay-per-day car insurance. And with that in mind, Wilov can create a series of commercials that make fun of people with pay-per-minute car insurance. Think: a man waiting in his car for his date to arrive, to quickly start honking like crazy as she’s late and he’s paying by the minute…or someone refusing to drive his friend home because it’s out of his way…

Recall flexible insurance players here.