Ride hailing firm Grab has partnered with insurance provider Chubb to launch an in app-purchasing Travel Insurance called Travel Cover, with a dedicated insurance tile.
According to a joint release, users purchasing the Traver Cover can save their travel profiles on the Grab app for future purchases. Additionally, Grab users will be rewarded with discounts for each repurchase of Travel Cover. The product is distributed by GrabInsure Insurance Agency, Grab Financial Group’s insurance platform. As part of the launch promotions, the first 20,000 customers can purchase Travel Cover at a discounted price for trips within the Asia Pacific . Travel Cover will be rolled out to other Grab markets in Southeast Asia in the coming months.
Scott Simpson, country president of Chubb in Singapore said, “Outbound travel from Singapore is thriving, reaching 10.4 million departures by air and sea in 20181. At the same time, smartphone users are projected to hit 4.65 million this year2. Our partnership with Grab allows us to develop more customer-centric insurance solutions that align with the varied lifestyles of consumers.”
Tom Duncan, head of insurance at Grab said, “Our mission with GrabInsure is to provide access to affordable insurance products that better meet the everyday needs of Southeast Asians as we enter the consumer insurance market. Our customer research shows that many individuals were uninsured when they travel, and we are uniquely placed to address this gap. Travel Cover is an example of how we are leveraging GrabInsure’s platform to deliver innovative ‘on-demand’ insurance products. We are pleased to be working with Chubb as they share our vision to make insurance affordable and easily accessible. We will continue to work closely together to expand the product offering and address the differing consumer needs across the region.”