Grab Partners with ZhongAn, Introducing Insurance Product in App
Currently available in Singapore, to reach Grab customers and drivers
In order to provide insurance for customers and drivers, Grab Holdings Inc. (Grab) forms a strategic partnership by creating a joint venture with ZhongAn Online P&C Insurance Co., Ltd. Furthermore, there will be various categories in the Grab app.
The product will be available in Singapore earlier this year. Grab offers insurance products for drivers to protect them of losing income due to health problem or accident.
Later, the insurance product will arrive to other countries, including Indonesia. This platform is expected to create access to the insurance products for those uninsured and underinsured.
"The insurance platform launching is part of our commitment to be the top "everyday superapp" in Southeast Asia. With more than 130 million downloads in around 336 cities, our in-depth knowledge of customer's behavior and demand makes it possible to provide innovative insurance products that could give additional value for customers.
Customers can purchase insurance in Grab app
This partnership is to bridge the issues often discovered in the search of insurance products, including unaffordable premium. Payment through GrabPay is allowed.
"We're very pleased to announce comprehensive partnership with Grab. We ensure to overcome the Southeast Asian customer's insurance demand, along with Grab and other leading insurance companies," Wayne Xu, ZhongAn's Vice General Manager said.
As part of the partnership agreement, ZA International,for business development overseas created by ZhongAn Insurance, will bring technical assets in making platform and insights related to internet ecosystem in the established joint venture.
"As the only player in the digital payment industry with license in Southeast Asia's six major countries, we'll improve our regional network and partnered up with global insurance to grow rapidly in countries where our business run," Ruben Lai, Head of Grab Financial said.
– Original article is in Indonesian, translated by Kristin Siagian