Chubb, the world’s largest publicly traded property and casualty insurance company, and Grab, the super app company in Southeast Asia, have announced the launch of a new product, Travel Cover.
It is a simple and rewarding way for users to purchase travel insurance anytime, anywhere right up till the moment of departure. Users who purchase it can save their travel profiles on the Grab app, making future purchases easy and convenient. Additionally, Grab users will be rewarded with discounts for each repurchase of the product. It is distributed by GrabInsure Insurance Agency, Grab Financial Group’s insurance platform.
Starting from 13 January, a new insurance tile will be added on the Grab app, allowing Singapore- based customers to purchase it from just SGD 2.50 (USD 1.86) per day for travel to any destination globally.
To celebrate the launch of this new product, the first 20,000 customers can purchase Travel Cover at a discounted price of just SGD 1 (USD 0.74) per day till 29 February for trips within the Asia Pacific region. It will be rolled out to other Grab markets in Southeast Asia in the coming months.
“More customer-centric insurance solutions.”
Scott Simpson, country president of Chubb in Singapore said: “Outbound travel from Singapore is thriving, 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 allows us to develop more customer-centric insurance solutions that align with the varied lifestyles of consumers.”
Tom Duncan, head of insurance at Grab said: “Travel Cover is an example of how we are leveraging GrabInsure’s platform to deliver innovative ‘on-demand’ insurance products.”