JJEM: Special Edition 4 (May 2025)
JJEM: Special Edition 4 (May 2025)
2025-05-31
A Study on Awareness and Perception towards Pay as You Drive Insurance with specials reference to selected districts of Karnataka
Rakesh Hosmani
This article examines the innovative realm of Pay-As-You-Drive" (PAYD) insurance, an innovative approach reshaping the landscape of general insurance in India. PAYD is a distinct insurance model where premium is calculated based on an individual's actual driving behavior. The article addresses the question of who should consider the model, emphasizing its suitability for different type of drivers. Potential savings are discussed, highlighting the benefits and challenges. To know public awareness and acceptance, the article incorporates survey findings on the familiarity and acceptance level of PAYD among the different sections of the society.
Pay as You Drive, General Insurance, Car insurance, IRDAI