Online mobility platform Ola on Friday announced the launch of a comprehensive in-trip insurance programme, customised for its driver-partners across the country.
The programme, launched in partnership with Bajaj Allianz General Insurance, is designed to benefit both driver-partners and their families, Ola said in a statement.
‘Chalo Befikar’ insurance will be provided to all active driver-partners on the platform, offering a cover of ₹500,000. Unlike traditional life insurance programmes, the scheme also provides daily benefits in case of hospitalisation, that covers business losses, apart from taking care of outstanding car loans and children’s education.
Today, a majority of the firm’s driver-partners across India do not have access to comprehensive medical insurance, or even a life insurance cover. The insurance programme is thus aimed at alleviating the financial burden for driver-partners and their families, the company said.
Features The features of the programme include covering outstanding vehicle-loan obligation of driver-partners, irrespective of the loan amount; children’s education fee (up to ₹24,000 per year) that covers a child till class 10th — over and above the cover of ₹500,000, and business loss reimbursement of up to ₹750 per day for three months, in case of temporary disability.
Vishal Kaul, Chief Operating Officer at Ola, said: “Over the course of this year, we have spoken with thousands of driver-partners across the country to understand their needs to build a policy that better addresses their needs. This new programme illustrates how a company can leverage local intelligence and work together with its beneficiaries to create an offering that is extremely relevant, but unavailable so far in the traditional structure. This policy also ensures that a crucial aspect of their children’s future — education — is not compromised despite an unfortunate incident.”
Tapan Singhel, MD and CEO, Bajaj Allianz General Insurance Company, said: “We are delighted to take our partnership with Ola to the next level, with a comprehensive insurance cover for all its cab drivers. These drivers are partners of Ola, and it is critically important to financially protect them against a possible accident. I am confident this is a step in the direction to ensure the entire driver-partner ecosystem of Ola is protected and insured.”