Insurance TelematicsVehicle Telematics

“Pay Per Minute” auto insurance program introduced by DriveQuant

Altima chose DriveQuant driving analytics solution as their technology partner to launch the world first “pay per minute” insurance policy. Both companies are sharing a common vision of innovation and delivering value to drivers fast.

MAIF is France 5th largest auto insurance company and 1st insurance company for institutions and public companies. Through its subsidiary Altima, it is very active in open innovation related to telematics and connected vehicles.

This new type of policy is ideal for people who are occasional drivers or have a spare car sitting on their driveway. Thanks to “Pay per Minute” auto insurance they won’t have to pay full premium ever again.

All they have to do is download the DriveQuant app on their smartphones and drop a bluetooth beacon, provided by the insurance company, in their glove compartment. The driving data collected with smartphones and telematic devices.

DriveQuant app syncs with the beacon to automatically detect trips and calculate cost based on real driving time, up to the minute.

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