Ride-hailing firm Grab is really stepping up its game to be a ‘super app’.
Today, it announced that it has partnered insurance company Chubb to offer on-demand travel insurance under GrabInsure Insurance Agency, Grab Financial Group’s insurance platform.
Called Travel Cover, it lets Singapore-based users buy travel insurance “anytime, anywhere right up till the moment of departure,” according to its media statement.
Based on their customer research, many individuals were uninsured when they travel, so they want to address this gap.
The purchase can be made via a new insurance tile on the Grab app, costing from S$2.50/day for travel to any global destinations.
With it, users can enjoy up to $200,000 compensation covering benefits such as personal accident protection, overseas medical expenses, flight cancellation and lost baggage.
Those who purchase Travel Cover are also able to save their profiles on the Grab app, making future purchases easy and convenient.
Additionally, Grab users will be rewarded with discounts for each purchase of Travel Cover.
To mark this launch, the first 20,000 customers can purchase Travel Cover at a discounted price of just S$1/day till 29 February 2020 for trips within the Asia Pacific region.
Grab users in other regions will be able to enjoy this insurance offering soon. Travel Cover will be rolled out to other Grab markets in Southeast Asia in the “coming months”.
“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,” said Tom Duncan, Head of Insurance at Grab.
“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.”
Featured Image Credit: Grab