Ola claims 20 million insured rides every month

Home-grown ride-hailing giant Ola has been expanding its wing be its foray into newer cities and countries, integrating food delivery, testing scooter rental service, enabling credit facility or providing in-trip insurance.

The Bengaluru-based firm has now set a unique record in issuing in-trip microinsurance policies to riders. The service launched in April last year has now reached a milestone of furnishing 20 million insurance to its rider on monthly basis.

The ten-month-old product seems to have gained a decent response from the customers who can opt the premium starting at just Re 1.

In its press statement, Ola said that the in-trip insurance saw acceptance from all age groups with key metros like Bengaluru, Delhi, Chennai, and Mumbai registering the fastest adoption growth rates.

This in-trip insurance cover is applicable across all category cabs, auto, kaali-peeli, and e-rickshaw and is now available across city and outstation categories. Outstation insurance is priced Rs. 49

The risk covered through this offering includes coverage against lost baggage, accidental medical expenses, accidental death or disability, OPD treatment and certain unique benefits such as loss or damage to a laptop or emergency hotel requirement for outstation rides, amongst others.

For the insurance cover, Ola has partnered with Acko General Insurance Ltd and ICICI Lombard across 125 cities it operates in.

Earlier in December 2017, Ola announced the launch of a comprehensive in-trip insurance programme, #ChaloBefikar, customised for its driver-partners across the country.

The company's arch-rival Uber, that has first initiated the insurance facility to driver partners is yet to unveil such facility for riders.