Edelweiss General Insurance (EGI) has launched a usage-based motor OD floater policy called Edelweiss SWITCH. It is app-based and driver-centric. Under IRDAI’s regulatory sandbox, the policy offers a special feature of switching it on and off as per the usage. Capable of covering multiple vehicles, it calculates insurance based on the age and experience of the driver. Using a pay-as-you-use model, allowing the customer to pay the premium only on the days the vehicle is in use, the policy covers accidental damage when switched on. It is applicable 24×7 on 365 days of the year against fire and theft even when it is switched off.

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