Phoenix introduces pay-as-you-drive insurance in Israel
Phoenix recently introduced ‘Phoenix Young’ pay-as-you-go auto insurance targeting young drivers in Israel . In partnership with telematics player Traffilog, the Israeli insurer is offering a hybrid dongle-slash-app package that allows drivers ages 17-23 to pay 1,500 NIS (~ $400) for 1,500 kilometers (~930 miles), with the option to purchase more miles throughout the policy lifecycle. Under this policy, the driver, and not the vehicle, is the one being insured. This has two major implications. First, this allows drivers to add up to four vehicles to any given policy. Note that each vehicle can only be valued at 100,000 NIS or less. Second, in the case of an accident, parents will not be impacted by their teen’s claims history.
In the pictures:
Installation is as easy as 1, 2, 3.
Driver must turn on the app at the start of each drive:
The app can reach emergency services, in the event it detects a crash:
Other features include sending alerts re. car maintenance, gas usage and mileage driven:
What win-win looks like:
Bottom Line: Phoenix’s latest tactic to help it compete with direct writers such as Direct Insurance and digital aggregators such as Wobi as it looks to drive more auto insurance shoppers to its agency channel. (Phoenix Young is sold exclusively through independent agents).