This was first published on Insurance Business Asia, written by Duffie Osental.
Regional automotive marketplace Carro has launched an artificial intelligence (AI)-driven pay-per-kilometre car insurance and maintenance plan in Singapore.
In a statement, Carro said its “Covered” product is the first of its kind in the city-state and allows drivers of all types of cars – including electric vehicles (EVs) – to “tailor their insurance premiums and maintenance coverage according to their lifestyles.”
“Digitalisation has turned the auto industry into a whole new ball game,” said Aaron Tan, founder and chief executive officer of Carro. “As one of the first to embrace it through our investments into digital technologies, Carro has been able to provide new generations of car owners a single touchpoint to resolve their car concerns through AI-driven, end-to-end services – including user-based insurance (UBI).