Friday Insurer Introduces Number-per-Kilometer Car Insurance Scheme
Baloise-owned Friday insurer announced the launch of a usage-based-insurance scheme that starts from 1 cent per kilometer. Available via 4 easy steps:
1. Customer estimates how much kilometers he is expected to drive.
2. Customer secures coverage and pays a flat rate.
3. After one year, customer submits actual kilometers driven online, via email or text.
4. Friday will adjust the price and either refund or charge the customer depending on the situation.
Bottom Line: 100% fair. 100% digital. 100% helpful. At least that’s the promise.