Canada’s first “pay-as-you-drive” insurance offering CAA’s MyPace™ has been nominated for an award by Insurance-Canada.ca.
CAA’s MyPace powered by Octo Telematics, allows motorists to have more control over their auto insurance. Through telematics and new billing technologies, MyPace allows motorists to track how much they drive and the ability to pay for auto insurance based on that mileage. Motorists start with a base rate and are charged in one-thousand kilometre increments. Those driving less than 9,000km a year are likely to save when compared to a traditional policy.
CAA Insurance integrated several existing technology platforms and developed new properties to enable this first to market offering in a way that created no disruption to the motorist. Drivers simply insert a telematics device to their car, download an app, and then drive!