Zensung, ERGO, Munich Re to launch ‘GO GREEN’ insurance policy

It will be delivered through the “Parrot” mobile application and policyholders can monitor their trips and CO2 emissions. 

Singapore-based InsurTech firm Zensung and insurance firms ERGO Pte. Ltd. and Munich Re partnered to launch “Parrot Safe Driver,” a “GO GREEN” motor insurance policy in Singapore.

Zensung, on Wednesday, said the policy delivered through its “Parrot” app using artificial intelligence, will make buying and monitoring car insurance “simpler, greener and fairer.” Users can purchase a policy, make a claim and receive safe driving rebates through the application.

It will also allow the policyholders to monitor their trips and repay for the carbon dioxide (CO2) emissions caused, using a globally recognized Greenhouse Gas Protocol to calculate the emissions.

The policyholders will also be given the option to become “CO2-neutral” by buying carbon credits from the application, Zensung said.

“The Parrot concept is also a testament to the shared commitment between Zensung and ERGO in positively impacting the environment and society. Parrot's scientific reward mechanism for safe driving has a far-reaching and long-term impact, enabling a permanent and positive change in its user’s driving habits, contributing towards reducing the number of accidents and making roads safer for the entire community,” it said.

Amod Dixit, founder and CEO of Zensung, said they hope the app will be encouraged to safeguard the environment, adding that the partnership with ERGO and Munich Re Group “represents a shared ambition in offering innovative yet environmentally friendly products.”

ERGO Singapore CEO Karl-Heinz Jung said the launch of the insurance policy “will encourage and reward Singapore drivers to become safer and more environmentally conscious.”