The Kerala Transport department has requested insurance companies to consider lowering the premium charged from motor vehicle users in the wake of the drop in accidents in the State after the installation of the Artificial Intelligence (AI)-enabled traffic surveillance system.
The insurance company representatives who attended a recent meeting convened by Transport Minister Antony Raju agreed to consider the request, said a release issued by the Motor Vehicles department (MVD).
Apart from this, the State has asked the representatives of the insurance companies to consider reducing insurance premium for vehicles not involved in any traffic violations and cost-sharing of the yard arranged for the safe parking of impounded vehicles. Further, the State also sought non-renewal of insurance for vehicles involved in traffic violations. It also sought to avoid entering into any kind of contract with vehicles involved in criminal cases.
The meeting decided to continue talks with the insurance companies in this regard. The meeting deputed Magma HDI General Insurance Company Limited, nominated by the Insurance Regulatory and Development Authority of India (IRDAI), to assess the progress of the suggestions made at the meeting with other insurance companies and the State government.
