Porsche releases pay-how-you-drive (PHYD) cash-back concept

Usage-based insurance (UBI) also known as pay-as-you-drive (PAYD) and pay-how-you-drive (PHYD) is a model of auto insurance where policies depend upon the type of vehicle used, measured against time, distance, behavior, location and additional data.  Porsche bank gave its selected customers a chance to acquire a discount on their monthly fee while using the PHYD […]