Grab, Southeast Asia's leading ride-hailing platform, has announced free group Personal Accident Insurance (PAI) coverage for GrabCar and GrabBike passengers and drivers across the region.
The Grab group PAI applies to all 28 cities in the six countries that Grab operates in, which are Singapore, Indonesia, Philippines, Malaysia, Thailand and Vietnam.
This is a first-of-its-kind insurance policy in the industry to be provided by a ride-hailing platform, and is the largest in terms of coverage in Southeast Asia, said Grab in a statement.
The group PAI makes certain that GrabCar and GrabBike passengers and drivers are covered against personal accidents, as some commercial insurance purchased individually by the drivers covers only third-party. In addition, GrabCar and GrabBike passengers and drivers need not pay any deductibles.
However, insurance coverage for GrabTaxi is subject to taxi fleet company policies.
The PAI policy offers coverage in the event of accidental death, permanent dismemberment and bodily injuries in the event of accidents for drivers and passengers. Total personal accident benefits for the driver or passenger are up to US$250,000 per vehicle, or up to an aggregate limit of US$2.5 million per accident in Singapore. Each incident will be evaluated individually by the insurance providers and the coverage amount differs across markets.
Safety initiatives
To help reduce the number of traffic accidents in Southeast Asia, Grab has also rolled out significant safety initiatives across Southeast Asia. In the Philippines and Indonesia, it has been operating defensive riding courses for GrabBike, and this will soon be rolled out in Thailand. In Singapore, Grab has been working with the Singapore Traffic Police to promote safety awareness, with plans to improve safety education for drivers. In Malaysia, Grab is installing CCTV cameras in the cars of 100 women drivers to ensure onthe-job safety, especially in the event of disputes. Such local initiatives complement Grab’s existing regional initiatives such as ensuring background screenings and training for drivers, vehicle inspections and in-app safety features such as ‘Share My Ride’.
According to a road safety report by the World Health Organization, road traffic injuries kill approximately 316,000 people each year in Southeast Asia. The region, which comprises 8% of the world population, disproportionately accounts for a quarter of the global total of road traffic deaths.
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