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Mar 2021

UAE: Drivers in telematics scheme to receive additional discount on motor premiums

Source: Middle East Insurance Review | Jan 2021

The UAE Insurance Authority (IA) has said that drivers will be granted an additional discount of up to 10% on their motor premiums if they agreed to install telematics technology on their vehicles to monitor driving behaviour.
 
The IA stated that installing the technology is optional for drivers, provided that the insurance company wishing to apply this technology is committed to allowing the insurance applicant to obtain motor insurance policies, reported Emirates Today.
 
Telematics is expected to contribute to reducing traffic accidents and the number of road fatalities. Under the system, the behaviour of insured drivers is evaluated in a standardised way among all insurance companies, and the drivers are rated.
 
Insurance companies that participate in the programme are obligated to maintain the confidentiality of information obtained through telematics, and not to disclose that information to any party except in compliance with a judicial or security order.
 
The IA stressed the need for insurers, before starting to install the necessary devices in vehicles, to obtain the written approval of the insured to take part in telematics.
 
Insurers have to provide the insured with the data and information he requires, without burdening the insured with any financial costs. The IA said that it is not permissible for the insured to be burdened with any financial costs for installing the devices and equipment necessary to implement the telematics system. M 
 
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