Tune Protect Malaysia Expects More Drivers To Get PAYD

As more Malaysians embrace the practice of working from home (WFH), Tune Protect Malaysia has enhanced their Pay-As-You-Drive (PAYD) eligibility criteria to cater to this new trend. It has tuned this plan by extending the eligibility age of insured (vehicle owner) to 65 years, and the age of vehicle to 10 years. This enhancement expected to benefit more drivers and enable a wider segment of vehicle owners to enjoy the benefits of PAYD. PAYD is an opt-in feature to the company’s motor insurance plan that rewards customers for driving less as they adapt to their new lifestyles.

As the country moves into recovery from COVID-19, the WFH arrangement is the new normal for some and is reshaping people’s daily lifestyles in many ways. In a recent study by KPMG, the WFH arrangement seems to be the preferred choice for 69% of the local workforce.

This arrangement has led to a significant drop in traffic in Malaysia. Acknowledging the fact that more people are working from home, Tune Protect Malaysia believes that those who drive less should be aptly rewarded by paying less premiums than the frequent drivers.

The growing urbanisation has resulted in a higher number of vehicles on the road, which contributes to increased pollution. PAYD was first introduced in August 2019 in support of a greener environment. Its aim is to help reduce urban stress of commuting on roads, and to encourage the use of public transportation such as LRT and MRT to ease road congestion.

How PAYD Works

PAYD is an opt-in feature of Tune Protect Malaysia’s Motor Insurance plan which rewards car owners with low mileage a refund up to 20% of the basic premium paid. Private car owners who are between the ages of 28 – 65 years and who own vehicles aged between 0 – 10 years with sum insured ranging between RM40,000 to RM300,000 will qualify to opt-in for the PAYD benefit when subscribing to Tune Protect motor insurance. Following a tier system, customers will enjoy a 20% refund on their basic motor insurance premiums if their mileage usage is between 0 – 6,000km, and a 15% refund if it falls between 6,001km to 8,000km at the expiry of the policy. PAYD is a complementary plan that is free of charge and the refund is on top of the vehicle’s No Claim Discount (NCD).

The plan operates by referring to the vehicle’s mileage data that is recorded from the odometer, stating the kilometers driven to-date. Customers who opt-in for PAYD will receive a personalised URL link via SMS and email to submit photographs of their vehicle’s odometer reading thrice during the duration of the year. These submission points are at the inception of the motor insurance policy, 180 days after inception, and at the point of expiry.

“We had received a lot of positive feedback from vehicle owners when we first introduced PAYD including requests to expand its eligibility criteria so that more car owners can enrol and benefit from this feature,” said William Foo, Chief Executive Officer of Tune Protect Malaysia.

“We are delighted to be able to fulfil these requests and quite timely in this new normal where more and more individuals have adopted to the WFH arrangement permanently. We want to offer the opportunity for people to enjoy the benefits earned from their everyday lifestyles,” William concluded.

For more information about Tune Protect PAYD or to purchase Tune Protect Malaysia Motor Insurance plan, please visit their website at https://www.tuneprotect.com/payd/.