According to a report in the Straits Times, NTUC Income has announced that it will now offer usage-based auto insurance coverage for electric vehicles (EV).
The insurance cooperative told the news agency that electric vehicle owners can now choose between three types of plans that allow them to pay premiums based on the mileage of their vehicle.
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“At Income, we’re keeping our finger on the pulse of what’s happening in this area and staying agile to respond to changing needs and scale demand as needed,” said Peter Tay, chief digital officer at NTUC Income, to Straits Times . “That’s why we also want to sharpen our innovative approach to risk assessment by integrating new safety and technology functions that take into account the behavior of the driver, such as: B. Impact on brakes and speed limits to enable more personalized offers. “
The new offering follows the Singapore government’s launch of the Green Plan 2030 in February, which aims to reduce carbon emissions by helping the transition to electric vehicles. Under the Green Plan, Singapore has pledged $ 30 million over the next five years to fund initiatives related to electric vehicles and make electric cars more affordable.
