Cab booking services Ola and Uber are offering insurance to customers during the travel. The US-based Uber on Wednesday have announced that free insurance will be issued to the customers to its free rides while an insurance sum of Rs. 1 will be enforced on premium Ola trips, Rs. 10 for Rentals, and Rs. 15 for Ola outstation.
Ola has joined hands with Religare Health Insurance, through its financial service arm to provide health insurance to their passengers. In case of any accident Ola will cover up to Rs. 5 lakh, Hospitalisation due to injury 1 lakh, missed flight up to Rs.5000, medical evacuation for up to Rs 10,000 among others.
Ola last April has partnered with Ako General Insurance together who have launched an in-trip insurance program for its users across all categories pan India including cabs, autos, kaali-peeli, and e-rickshaw, starting at a premium of Rs 1 per ride for an insurance cover of 5 lakh for its intra-city travels. Uber, on the other hand, have gone a further step ahead and launched rider insurance at no extra cost today, in partnership with Bharti AXA and TATA AIG, which will cover all rides in cars, autos, and motos up to a maximum of Rs. 5 lakh in case of accidents on trips. This insurance will cover any kind of physical injury that has resulted from an accident on a trip.
Uber’s coverage benefit include: Accidental death- Rs. 5,00,000, Accidental disability (Permanent/Partial)- up to Rs 5,00,000, Accidental hospitalization- up to Rs 2,00,000 including OPD benefit maximum up to Rs 50,000.
“Ola’s Hospicash insurance is definitely a move to monetize Ola’s vast user base paving its path to becoming profitable before it goes in for an IPO. It is also a great value addition for Ola’s users, who have much to gain. Similarly, Uber’s rider insurance at no extra cost to the rider is a clear case of seeking goodwill and loyalty from its customer base” said an analyst tracking the cab-hailing space.
These benefits can be experienced directly from a passenger’s Ola app for which one has to choose a ride from ‘Your Rides’ and the next step will be to claim the ‘Support’ from the bottom bar and select ‘Claim Insurance for this ride.’