At least 14 general insurers have filed Pay-As-You-Drive (PAYD) and Pay-How-You-Drive (PHYD) telematics product variants for commercial fleets with IRDAI, marking a significant step towards usage-based insurance in India.
Active Deployments: HDFC Ergo, ICICI Lombard, Bajaj Allianz, Tata AIG, Go Digit, and ACKO are among insurers with active telematics-based commercial fleet programs. Early data from LCV (light commercial vehicle) fleets shows a 15–28% reduction in claim frequency. Telematics data—including braking patterns, speed profiles, and route risk—is enabling more accurate pricing and proactive risk management for fleet operators.
Source: Sarvada AI Insurance Intelligence Report (May 2026)