Grab and Chubb launch Travel Cover
Southeast Asian ride-hailing unicorn Grab is introducing a new insurance product via its app – Travel Cover – a travel insurance product underwritten by Chubb.
Initially available to Singapore residents with plans to launch in other Grab markets in Southeast Asia, Travel Cover allows users to purchase coverage right until the moment of departure with premiums starting at S$2.50 a day for any destination. Once users receive a quote and pay, the app saves their travel profiles to make future purchases easier which are more affordable as users receive discounts for subsequent purchases.
“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.” – Tom Duncan, head of insurance at Grab.