SINGAPORE, March 13, 2018 /PRNewswire/ -- Grab, the
leading on-demand transportation and fintech platform in
Southeast Asia, has announced a
partnership with Chubb, the world's largest publicly traded
property and casualty insurance company, to offer insurance
solutions for Grab's driver-partners. Using the Grab app, drivers
will be able to select different insurance options to protect their
vehicles, their livelihoods and, ultimately, even their families,
with access to loss of income insurance, per-ride schemes, personal
accident policies and motor insurance. The companies will also
explore leveraging data technology from Grab's platform, including
telematics, machine learning and predictive analytics to offer
insurance solutions personalized to the specific needs of different
private-hire vehicle drivers in Southeast
Asia.
The partnership was announced as part of the launch of Grab
Financial, the fintech platform within the Grab ecosystem.
Encompassing all of Grab's fintech offerings, Grab Financial offers
payments services, rewards and loyalty services, financial services
and agent services.
Jason Thompson, Managing
Director, GrabPay Southeast Asia, said, "At Grab, driver welfare is
at the heart of our vision of improving the lives of people in
Southeast Asia. We want to ensure
our driver-partners' hard work pays off and that their income and
livelihoods are protected. 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 Southeast Asia."
Paul McNamee, Regional President,
Chubb Asia Pacific, said, "We are delighted to work with a digital
pioneer like Grab to protect their 2.6 million driver-partners. 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. Overall, this partnership is an exciting step in our
digital strategy to meet growing insurance needs in Asia Pacific."
This new partnership is an extension of Grab's long-term
commitment to improve driver welfare. According to a survey
published in June 2017, Grab's
driver-partners earn 32% more income on a per-hour basis compared
with average worker wages across all of Grab's markets. Beyond
earnings, Grab has also continued to invest in its support
function, in-app tools and community events to make the
driver-experience better. Examples include the roll-out of in-app
features such as instant cash-out, which enables drivers to
transfer money to their bank accounts instantly; GrabBenefits, an
in-app view of all discounts and offers negotiated for drivers; and
My Destination, a feature that enables drivers to get trips in the
direction they are planning to go. These features make it easier
for drivers to find rides and secure earnings. Improvements have
not been limited to the app, with Grab continuing to invest in
general support through driver training at the Grab Driver Centre
as well as community events to strengthen driver relations.
Grab has continuously focused on forming partnerships to explore
new and innovative ways to solve Southeast Asia's biggest challenges. From
working with governments, to taxi operators and financial
institutions, Grab's open-market model is aimed at making transport
and transactions safer, more affordable, and more reliable. With
Chubb's help, the company expects to break new ground, making
insurance more convenient and affordable for its drivers, with
features like pay-per-ride options, one-click enrollment and claim
payment via the app.
Chubb is committed to the digitization of its insurance products
and services to meet the needs of customers living, working and
running businesses in the Digital Age. The company is investing in
product innovation, analytics and technology to provide a truly
"anytime-anywhere" customer experience for its clients and
distribution partners. Chubb's capabilities range from simple
easy-to-apply consumer insurance plans offered through social media
and mobile platforms to artificial intelligence-enhanced decision
support of underwriting and claims.
About Grab
Grab is Southeast
Asia's leading on-demand transportation and fintech
platform. Grab solves critical transportation challenges to make
transport freedom a reality for 620 million people in Southeast Asia. Grab's core product platform
includes transport solutions for drivers and passengers with an
emphasis on convenience, safety and reliability, as well as its
proprietary mobile payments platform, GrabPay, which is increasing
access to mobile payment solutions for millions of Grab riders and
drivers across Southeast Asia and
deepening financial inclusion in the region. Grab currently offers
services in Singapore,
Indonesia, Philippines, Malaysia, Thailand, Vietnam, Myanmar and Cambodia. For more information, please visit:
www.grab.com.
About Chubb
Chubb is the world's largest publicly
traded property and casualty insurance company. With operations in
54 countries and territories, Chubb provides commercial and
personal property and casualty insurance, personal accident and
supplemental health insurance, reinsurance and life insurance to a
diverse group of clients. As an underwriting company, we
assess, assume and manage risk with insight and discipline.
We service and pay our claims fairly and promptly. The
company is also distinguished by its extensive product and service
offerings, broad distribution capabilities, exceptional financial
strength, underwriting excellence, superior claims handling
expertise and local operations globally. Parent company Chubb
Limited is listed on the New York Stock Exchange (NYSE: CB) and is
a component of the S&P 500 index. Chubb maintains
executive offices in Zurich,
New York, London and other locations, and employs
approximately 31,000 people worldwide. Additional information can
be found at: www.chubb.com.
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SOURCE Chubb; Grab