International insurer Chubb and ride-hailing service Grab are partnering to provide insurance services for the latter’s driver-partners.
As part of the partnership, Grab drivers can select various insurance options, including loss-of-income insurance, per-ride schemes, personal accident policies, and motor insurance. The firm aims to make insurance more convenient and affordable for its drivers, with features like pay-per-ride options, one-click enrolment, and claim payment all within the app.
Both companies will also work to harness rich data from Grab’s platform for applications such as telematics, machine learning and predictive analytics to offer insurance services to its private-hire vehicle drivers in Southeast Asia.
The partnership was announced as part of the launch of the Grab Financial fintech platform. This platform offers payments services, rewards and loyalty services, financial services, and agent services.
“We want to ensure our driver-partners’ hard work pays off and that their income and livelihoods are protected,” said Jason Thompson, managing director of GrabPay Southeast Asia. “We are excited to have a partner such as Chubb with whom we share this vision. Backed by Chubb’s global insurance expertise, we are now able to bring this app-based insurance product for the first time to drivers across
“We are delighted to work with a digital pioneer like Grab to protect their 2.6 million driver-partners,” added Paul McNamee, regional president, Chubb Asia-Pacific. “Our insurance partnership is evolving from traditional group personal accident coverage for drivers to more digital options directly offered from the Grab app. We will also work with Grab’s customer and partner-centric platform to introduce relevant, convenient and affordable digital insurance options in the eight countries where Grab operates.”