Chubb, one of the world’s largest publicly traded
property and casualty insurance companies, has partnered Grab, a
leading app in Southeast Asia, to launch Travel Cover.
Grab users who purchase Travel Cover are able to
save their travel profiles on the Grab app, making future
purchases extremely easy. They will also be rewarded with
discounts for each repurchase of Travel Cover.
The product is distributed by GrabInsure Insurance
Agency, Grab Financial Group’s insurance platform.
Tom Duncan, Head of Insurance at Grab, said, “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. We
are pleased to be working with Chubb as they share our vision to
make insurance affordable and easily accessible. We will continue
to work closely together to expand the product offering and
address the differing consumer needs across the region.”
In Singapore, for example, a new insurance tile
has been added to the Grab app, allowing Singapore-based customers
to purchase Travel Cover from just S$2.50 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 S$1 per day until 29 February 2020 for trips within
the Asia Pacific region.
Travel Cover is expected to be rolled out to
other Grab markets in Southeast Asia in the coming months.
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 with Grab allows us to develop more
customer-centric insurance solutions that align with the varied
lifestyles of consumers.”