Pay As You Drive, or PAYD for short, is an innovative insurance concept that enables insurance companies to collect individual driving data, provide feedback on driving performance and offer discounts based on this data. In short, if you drive more carefully, you pay less.
According to the World Health Organization (WHO), around 1.35 million people die in road accidents every year. In addition, another 20 to 50 million road users suffer non-fatal injuries. According to estimates, traffic accidents will even become the seventh leading cause of death worldwide by 2030 if no countermeasures are taken. Pay-As-You-Drive insurance is now designed to help save or protect these lives.
