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INSURANCE | Staff Reporter, Thailand

MSIG Thailand, AIS Insurance to launch vehicle insurance plan

The plan uses real driving behaviours to calculate premiums.

MSIG Thailand and AIS Insurance Service, with support from the Office of Insurance Commission (OIC), are launching the country’s first vehicle insurance plan which fully utilises insurtech, a statement read.

Prakan Kubdee, or Good Driving Insurance, uses real driving behaviors to calculate premiums. It is calculated from up-to-date variables with data analysis from MSIG Car Informatics using the On-Board Diagnostic II equipment, a small device attached to a vehicle which can capture deep variables and driving behavior values in more detail.

The calculation is derived from five key variables, namely distance, speed, journey time, time of the day driven, and area driven.

Prakan Kubdee is available starting 11 February.

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