Chubb Partners Grab to Launch In-App Travel Insurance in Singapore

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.”

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