Grab Malaysia has introduced a usage-based motor insurance and takaful for its e-hailing drivers. In a statement yesterday, the group said the Grab Daily Insurance (GDI) policy is specially designed in partnership with 14 leading Malaysian insurers and takaful operators. Grab Malaysia said this provides its driver-partners the option to add a daily e-hailing insurance or takaful coverage from RM1 a day.
The move comes as new e-hailing regulations require e-hailing drivers to purchase an e-hailing insurance or takaful policy, on top of their existing motor insurance or takaful policies, which averages between RM400 and RM500 a year.
The group noted 80% of its drivers work part-time, on average able to supplement their incomes by 37%, on top of incomes from their daily jobs.
The GDI is the latest product launched by Grab Financial Group’s insurance arm GrabInsure, a digital insurance marketplace established by a joint venture between Grab and ZhongAn Technologies Insurance International.
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