Ola Partners with Acko to offer In-Trip Insurance
Ola, India’s leading and one of the world’s largest ride-sharing companies founded in 2011, announced the launch of in-trip insurance coverage for its customers across India; becoming the first smart mobility platform in the country to offer in-trip coverage. The program is launched in partnership with digital insurer Acko.
A user booking an Ola ride can opt for an in-trip insurance cover while booking the ride at a premium of INR 1 for all intra-city travel; INR 10 for Ola Rentals; INR 15 for Ola Outstation. Coverage applies for lost baggage or laptops, missed flights, accidental medical expense, ambulance transportation, and more.
The optional in-trip insurance program can be purchased through the Ola app. Claims can be made through the Ola app as well as Acko’s website, mobile app and, call center. Also, Ola’s partnership with ICICI Lombard General Insurance Ltd will be live in the coming months.
“We are thrilled to introduce in-trip insurance for our customers under the ‘Chalo Befikar’ insurance program. Just for INR 1, Ola customers can avail an insurance policy of INR 5 lakh which will also provide cover for missed flights, loss of baggage, loss of laptop, emergency hotel requirements, and many more. The launch of this initiative, a first of its kind in India, reiterates our resolve of building customer-first solutions” – Ola COO, Vishal Kaul.
“Ola is a pioneer of mobility in India and Acko is excited to partner with them. Together with Ola we have created a first of its kind in-trip insurance that would be of great value to millions of Ola users and would ensure that their daily commute is stress-free. We have been able to develop an easy to understand product that is delivered seamlessly to the user. As India’s first insure-tech player we made this possible with our capabilities in product design along with our technology platform that is capable of high volume insurance transactions in real time for both policy issuance and claims management” – Founder & CEO, Acko General Insurance, Varun Dua.
“At ICICI Lombard, we are proud to partner with Ola, India’s leading ride sharing platform. We are happy to offer yet another of our innovative digital insurance solutions to their customers. As India’s leading general insurance company, we have always been ahead in terms of introducing new age solutions that address the emerging market dynamics and meet the requirements of India’s young and aspiring consumers. We believe that this partnership will immensely benefit Ola’s large base of customers” – Executive Director, ICICI Lombard General Insurance Company, Sanjeev Mantri.
Bottom Line: Trov’s partnership with Waymo comes to mind.