Grab offers Chubb travel insurance on its app

SINGAPORE users of Grab can now buy insurer Chubb's travel insurance product on the ride-hailing giant's app, under a tie-up between the two companies.

Grab has added a new insurance tile on its app for users to purchase Travel Cover. Premiums start from S$2.50 a day for travel to any destination globally, both firms announced in a joint statement on Monday.

Grab users will receive discounts for each repurchase of Travel Cover, and can save their travel profiles on the app to make future purchases easier. They will get an instant quote and be able to pay for the policy directly using GrabPay.

The product is underwritten by Chubb and distributed by GrabInsure Insurance Agency, the insurance platform of Grab Financial Group.

Travel Cover will be rolled out to other Grab markets in South-east Asia in the coming months.

Scott Simpson, country president of Chubb in Singapore, said the partnership allows Chubb 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 Grab leverages GrabInsure's platform to deliver innovative "on-demand" insurance products.

"We will continue to work closely together (with Chubb) to expand the product offering and address the differing consumer needs across the region," Mr Duncan added.

Currently, another Grab-Chubb partnership allows Grab users to get free insurance for travel personal accident and flight delay when booking hotels through its platform.