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Old 21st December 2017, 09:46   #1
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Smile Ola launches comprehensive in-trip insurance for its drivers

In response to rival Uber offering Insurance to the drivers on their rolls, online cab aggregator Ola launches a comprehensive in trip insurance for the driver partners in association with Bajaj Allianz. The program called Chalo Befikar will provide an insurance of Rs 5 lakh for the driver partners designed to benefit the drivers and their families who did not have any health or life insurance cover. This would reduce the financial burden on the driver partners and their families in any emergency.

Key features of this Insurance:
1) Cover of Rs 5 lakh
2) Daily hospitalization benefit
3) Cover outstanding vehicle loan obligations
4) Cover children education fee (upto Rs 24000 per year) till class 10. This would over and above the 5 lakh cover
5) Business loss reimbursement upto Rs 750 per day for 3 months in case of disability.

Quote:
Vishal Kaul, Chief Operating Officer at Ola, said: “Over the course of this year, we have spoken with thousands of driver-partners across the country to understand their needs to build a policy that better addresses their needs. This new programme illustrates how a company can leverage local intelligence and work together with its beneficiaries to create an offering that is extremely relevant, but unavailable so far in the traditional structure. This policy also ensures that a crucial aspect of their children’s future — education — is not compromised despite an unfortunate incident.”

Tapan Singhel, MD and CEO, Bajaj Allianz General Insurance Company, said: “We are delighted to take our partnership with Ola to the next level, with a comprehensive insurance cover for all its cab drivers. These drivers are partners of Ola, and it is critically important to financially protect them against a possible accident. I am confident this is a step in the direction to ensure the entire driver-partner ecosystem of Ola is protected and insured.”
More details in the links below:
http://www.thehindubusinessline.com/...cle9994634.ece

https://economictimes.indiatimes.com...w/62085047.cms

https://www.olacabs.com/media/press/...river-partners

Its good to see cab aggregators showing the care towards its drivers.

Uber has a similar tie up with ICICI Lombard. Details in the link below:

https://economictimes.indiatimes.com...w/60277418.cms

Last edited by navin : 21st December 2017 at 13:10. Reason: typo
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Old 21st December 2017, 10:52   #2
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Default Re: Ola launches comprehensive in-trip insurance for its drivers

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Originally Posted by ghodlur View Post
In response to rival Uber offering Insurance to the drivers on their rolls, online cab aggregator Ola launches a comprehensive in trip insurance for the driver partners in association with Bajaj Allianz.
This will benefit thousands of people.

What they also need is general health insurance (not in-trip only). Ola can take this tie-up with Bajaj Allianz one step forward & offer health insurance to the driver & his family for a nominal (heavily discounted) monthly fee. Make it so cheap that it's hard to say no. The lower the literacy & income levels, the lesser the chance they're covered by insurance. One major illness can financially wipe out a family that is making basic $$$.

Last edited by GTO : 21st December 2017 at 11:04.
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