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Bajaj Allianz General Insurance has launched its add-on motor insurance cover called ‘pay as you consume’ (PAYC). 

The company was the first to launch ‘Pay As You Consume’ under the Irdai’s sandbox regulations and owing to the overwhelming response from customers, Bajaj Allianz General Insurance launched this as a full-fledged cover under motor insurance products. 

Pay-as-you-consume add-on cover can be opted by the customer along with the basic plan under package product, bundled and standalone OD cover. Customers can choose coverage based on their vehicle usage, further to which the premium will be calculated, i.e., kilometres driven annually. Customers can also avail of an additional benefit in premium for their safe driving.

“Pay as you consume gives customers the flexibility to choose their insurance premium based on how they want to use their vehicle and intends to extend benefits to them, depending on their driving behaviour, using telematics. This will also encourage customers to drive safely, thus making our roads safer in the long run," said Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance.

This product offering not only lets consumers decide the premium, but also lets them decide the coverage as well and provides benefits for safe driving behaviour. The company will offer this modular product through an omnichannel approach across the country.

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