Introducing pay-per-mile insurance by Ticker
European MGA Ticker has launched its pay-per-mile insurance offering for low-mileage drivers. This is the latest product in a suite of connected car propositions, which includes novice drivers, van drivers and electric vehicles.
The pay-per-mile product is live and available via Confused.com .
In order to protect their parked car from theft or damage, the customer must pay up front. After then, he receives a set, unique rate per mile for the miles he logs (a self-install plug-in device sends odometer data to Ticker). The user can view trip costs and monthly invoices in the Ticker app.
“We’re thrilled to be introducing pay-per-mile into our expanding suite of connected motor products. It’s a case of right product, right time – but its difficult to imagine a future where every insurer doesn’t have a usage-based product in its offering. We’re very confident this product will succeed, for several reasons: our award-winning technology and customer experience, very high levels of pricing sophistication resulting in market-leading loss ratio performance, and our use of machine learning and AI across many aspects of the business.” – Ticker Founder and CEO Richard King.