Baloise Subsidiary Friday Promotes “Pay as You Drive”
Baloise subsidiary Friday pursues the motto “pay as you drive”, or pay only what you actually drive.
The Premium Drops
With kilometer-accurate billing, insurance is “worthwhile,” “especially if policyholders drive less than 6,000 km a year”. The way it works is the same as electricity billing: you only pay for what you use.
In partnership with Munich-based automaker BMW, or startup TankTaler, mileage transmission is sent to Friday. If policyholders do not own a BMW or the TankTaler app, they can simply enter the mileage at the end of their policy term via SMS, WhatsApp or Messenger.
The fare of Friday does not take into account the driving data and is calculated on the basis of the kilometers driven. The driving style or the type of routes are, unlike telematics tariffs, not included in the price calculation.