News Release

Chubb and Grab Collaborate to Launch In-App Purchasing of Travel Insurance
Jan 13, 2020
Travel Cover Now Available on the Grab App

SINGAPORE, January 13, 2020 – Chubb, the world’s largest publicly traded property and casualty insurance company, and Grab, the leading super app in Southeast Asia, announced today the launch of Travel Cover.

Travel Cover is a simple and rewarding way for users to purchase travel insurance anytime, anywhere right up till the moment of departure. Users who purchase Travel Cover are able to save their travel profiles on the Grab app, making future purchases easy and convenient. Additionally, Grab users will be rewarded with discounts for each repurchase of Travel Cover. The product is distributed by GrabInsure Insurance Agency, Grab Financial Group’s insurance platform.

Starting from today, a new insurance tile will be added on the Grab app, allowing Singapore-based customers to purchase Travel Cover from just S$2.50/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/day till 29 February for trips within the Asia Pacific region. Travel Cover will 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[1]. At the same time, smartphone users are projected to hit 4.65 million this year[2]. Our partnership with Grab allows us to develop more customer-centric insurance solutions that align with the varied lifestyles of consumers.”

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.” 

About Chubb in Singapore

Chubb is the world’s largest publicly traded property and casualty insurer. Chubb Insurance Singapore Limited, via acquisitions by its predecessor companies, has been present in Singapore since 1948. Chubb in Singapore provides underwriting and risk management expertise for all major classes of general insurance. The company’s product offerings include Financial Lines, Casualty, Property, Marine, Industry Practices as well as Group insurance solutions for large corporates, multinationals, small and medium-sized businesses. In addition, to meet the evolving needs of consumers, it also offers a suite of tailored Accident & Health and Personal & Specialty insurance options through a multitude of distribution channels including bancassurance, independent distribution partners and affinity partnerships.

Over the years, Chubb in Singapore has established strong client relationships by delivering responsive service, developing innovative products and providing market leadership built on financial strength.

More information can be found at www.chubb.com/sg.

About Grab

Grab is the leading super app in Southeast Asia, providing everyday services that matter most to consumers. Today, the Grab app has been downloaded onto over 166 million mobile devices, giving users access to over 9 million drivers, merchants and agents. Grab has the region’s largest land transportation fleet since its founding in 2012. Grab offers the widest range of on-demand transport services in the region, in addition to food and package delivery services, across 339 cities in eight countries.

For more information, please visit www.grab.com.

 

[1] Department of Statistics, Singapore - https://www.tablebuilder.singstat.gov.sg/publicfacing/createDataTable.action?refId=15301

[2] Number of smartphone users in Singapore from 2014 to 2022 (in millions) by Statista - https://www.statista.com/statistics/494598/smartphone-users-in-singapore/

For further information: Juliana Lim, juliana.lim@chubb.com, Chubb Insurance Singapore Limited, +65 6398 8672 Darrell Low, grabsg@infom.asia, IN.FOM for Grab Singapore, +65 6440 0122