Ride Cover Plus: Meet Grab’s novel accident insurance that protects passengers beyond rides

Safety and risk-mitigation is top-of mind for us at Grab. Since 2020, we have offered accident insurance to our ride-hailing passengers through an insurance package called Ride Cover. It compensates passengers when they experience delayed pick-ups, or if they get into an accident while using our ride-hailing services. But what if an accident happens after they’ve gotten off the motorbike or stepped out of the car?

We heard from our consumers that they would like the protection to go further. It was time to take Ride Cover to the next level, and we arrived at an upgraded version called Ride Cover Plus (RCP).  

Accident insurance beyond rides

We entered 2024 by launching RCP in the Philippines and will do the same soon in Indonesia. These are our two pilot countries. With this enhanced insurance package, we offer coverage for personal accidents for 24 hours after a passenger’s ride with Grab ends.

When booking a ride, customers can opt for RCP as an add-on. It’s priced below 5 per cent of the cost of the ride. The premium will be added to the total fare, and their 24-hour coverage window begins. If they book a Grab ride again the next day, the protection will be automatically extended into another 24 hours, unless they opt out of the package.

In the case of someone taking a Grab Car to go to their office every morning, they are protected against accidents throughout that entire work week.

The protection can also cover accidents happening overseas. For example, if a passenger takes a Grab Car with RCP from their home in the Philippines to the airport for an international flight, they can receive compensation for any personal accidents that occur at their destination within 24 hours of their last ride.

Accessible insurance products

Adoption of RCP in the Philippines has been encouraging within a month of launch, signalling that users are willing to pay for a more powerful insurance product. 

We also found that frequent users—those who use Grab at least once a day—are likely to opt for such add-on insurance products. They are willing to pay a slight premium to travel with a peace of mind. 

With “micro-insurances” such as RCP, we aim to make such financial products more accessible to those in our community. This means being able to get coverage affordably, and without the hassle of filling out forms and negotiating with the insurance company.

We strive to present our insurance products as transparently as possible. The policies are issued by insurance company Chubb, with Grab as the distributor. Claims are submitted through Chubb’s website, but our consumers can seek assistance from Grab to navigate the claim system on our partner’s website.

Our greatest goal is to create impactful products that solve our users’ pain points. As the effort to iterate will always continue, we welcome feedback and insights to optimise our insurance products.