Grab Malaysia Launches Daily Insurance for E-Hailing Driversby Fintech News Malaysia August 7, 2019
Grab Malaysia unveiled a usage-based motor insurance and takaful for e-hailing driver in Malaysia, Grab Daily Insurance (GDI).
Designed in partnership with 14 leading insurers and takaful operators in the country, the innovative product offers driver an accessible, yoption to add on daily e-hailing insurance coverage from as low as RM1 per day
New e-hailing regulations require drivers to purchase an e-hailing insurance/takaful, an add-on to their existing motor insurance/takaful, which may cost up to RM400-500 upfront for the year. Grab aims address this upfront burden via Grab Daily Insurance
GDI is the latest product by GrabInsure, Grab Financial Group’s insurance arm. GrabInsure is a digital insurance marketplace set up by the joint venture between Grab and Chinese insurtech giant ZhongAn Technologies .
Across the causeway Grab has also launched a micro insurance plan aimed at covering critical illness for its drivers.