News From Press Hybrid workers drive demand for pay as you drive insurance plans

Hybrid workers drive demand for pay as you drive insurance plans

Source: Business Standard Aug 7, 2024

The demand for pay-as-you-drive (PAYD) plans in motor insurance has increased by 25 per cent among its largest customer base — hybrid workers — due to favourable regulatory guidelines.

In the master circular issued in June, the Insurance Regulatory and Development Authority of India (Irdai) directed insurers to offer additional options like PAYD and pay-as-you-go as a primary choice for customers.

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