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FBC Insurance Breaking New Ground: Launches MyDRIVE A Revolutionary Usage Based Motor Insurance Product
FBC Insurance launched into the market a world-class, customer driven and low cost Usage Based Insurance product christened MyDrive. MyDrive, an earth shattering innovation which is a first of its kind in Zimbabwe, allows clients to enjoy cost savings hinged on customised and fair insurance premium charges based on the customer’s actual annual mileage. The product is available for individuals, corporates, schools and churches.
What is MyDrive?
This is a motor insurance cover where the client is charged for the kilometres travelled. At inception a client chooses a mileage that they think they will travel for the insurance term. The insurance premium is calculated based on the mileage and sum insured of the vehicle. This new product is structured in such a way that it allows the client to save up to 50% compared to the traditional insurance.
Additional to the traditional prerequisites, a telematics device is fitted on the vehicle. The device monitors the following;
  • The mileage covered within a specified period
  • Accelerating , braking and cornering
Target Market
  • Individuals who use their vehicle for travelling to and from work, Vehicles that are used for school runs etc.
  • Groupings of individuals e.g. staff schemes like FBC Holdings Staff
  • Churches
  • Pensioners
  • Schools – buses, trucks, private vehicles

How do you measure the distance that I would have travelled?

  • The telematics gadget installed will have real time measurement of distance travelled.

Is my privacy violated?

  • No! The My Drive product is governed by a strict privacy policy where by only the client and service provider have access to the information.

Who pays to fit a telematics device in my car?

  • FBC Insurance

Am I insured if I’ve bought a policy but the device isn’t fitted in my car?

  • Cover commences when client pays.
  • When can I expect my gadget to be installed?
  • Within 48 hours.

What are the safety benefits?

  • The car is on a 24/7 tracking system. In the case of an accident and your insurer believes that you might be injured especially if the car is in an isolated or remote location they will call emergency services on your behalf. The potential for saving lives may ultimately prove invaluable.