Nan Shan, Gogoro team up on usage-based insuranceSAFE RIDERS: The special vehicle insurance policy’s premium is determined by a rider’s behavior on the road, such as speed, distance, driving habitsBy Kao Shih-ching / Staff reporterNan Shan General Insurance Co (南山產險) yesterday launched the nation’s first usage-based insurance (UBI) policy in collaboration with Gogoro Inc (睿能創意), with the special policy expected to benefit safe riders. In the first stage, Nan Shan would adjust its premiums based on driving distance, with those covering more distance seeing higher premiums than those who ride less. “It is not our intention to punish dangerous riders, but to reward safe riders with lower insurance premiums,” Tsai and Peng said. CONSENTGogoro would not deliver a motorist’s data to Nan Shan without their consent, and all data would be delivered via blockchain technology to ease concerns over information security, they said. Nan Shan has not yet decided when to implement the second stage, as it needs to first build a consumer database and set up analysis models, Tsai said, adding that it would not take long.

Source: Taipei Times December 16, 2020 15:56 UTC