The product, Travel Cover, will allow users of the Grab app – first developed as a ride-sharing, delivery and payment solution – to buy travel insurance ‘any time and anywhere’. Individual user profiles can be saved to the app, simplifying and speeding up the process in future. Users will also have access to special discounts each time they repurchase the coverage. Travel Cover will be distributed by GrabInsure Insurance Agency.
“Outbound travel from Singapore is thriving,” said Scott Simpson, Chubb’s Country President for Singapore, “reaching 10.4 million departures by air and sea in 2018. At the same time, smartphone users are projected to hit 4.65 million this year. Our partnership with Grab allows us to develop more customer-centric insurance solutions that align with the varied lifestyles of consumers.”
Grab’s Head of Insurance, Tom Duncan, had this to say: “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.”
The product will be rolled out in more Southeast Asian markets over the next few months.