Insurtech Zensung launches ‘go green’ app
Insurtech Zensung launches ‘go green’ app
Singapore-based insurtech firm, Zensung today launched its application called Parrot on the app stores.

This solution grants users access to Singapore’s first of its kind ‘Go Green’ insurance policy, underwritten by a partnership with the Singapore branch of multinational insurer ERGO. Zensung’s Parrot mobile app is built on an Artificial Intelligence (AI) based proprietary platform, enabling the process of buying and monitoring motor insurance policies simpler, greener and fairer. Through the app, users can purchase a policy, make a claim, and receive safe driving rebates simply by using their smartphone.

Zensung’s innovative Parrot app and policy makes use of sensors present in smartphones to analyse driving behavior, and does not require an active internet connection to do so. The app also does not require the installation or use of additional external hardware, allowing individuals to run the app while on a driving trip. In line with the focus on sustainability in recent months, the Parrot app uses the globally recognised greenhouse gas (GHG) protocol to calculate emissions, allowing policyholders to monitor their drives and compensate for any CO2 emissions caused.

Announcing the same, Amod Dixit, Founder and CEO of Zensung said, “Parrot provides the technology and incentive to build a community of responsible drivers. We aim to delight with a seamless client experience and reward our policyholders for safe driving and shared vision of a safer and greener Singapore. Zensung aims to disrupt the motor insurance market.”

He further added, “After months of hard work, we feel excited and proud to be able to launch our Parrot app. This app is our way of contributing to sustainability efforts while helping to ensure that our roads are a safer place for all. The launch of Parrot represents Zensung’s firm commitment in developing innovative and sustainable insurance solutions. Together with our partners, we strive to create an environment-friendly future for not just Singapore, but for the rest of the world.”

The Parrot app is easily accessible to all interested individuals in Singapore who own a smartphone, and is available for download on both Google Play and Apple App Stores. Individuals need not go through any third parties to access the app and policy. To incentivise users to drive safely and sustainably, users will earn P-Rewards. The P-Rewards earned by users would allow them to redeem Shell Fuel Vouchers, or Carbon Credits from Shell Nature-based solutions. Over the year, users can earn back up to 15% of their annual base insurance premium over and above their usual No Claim Discount (NCD). In the near future, Zensung also plans to launch the Parrot app in other Southeast Asian countries such as Malaysia, Thailand, and Vietnam.

Karl-Heinz Jung, ERGO’s Singapore CEO said, “The launch of the Parrot app is an exciting time for us, especially now during this time when the spotlight is on sustainability. We hope that Parrot can act as the trailblazer for insurers to move towards more environmentally friendly policies and products.”  

Source: FinExtra

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