Ola Cabs becomes India’s largest private micro-insurance service with 20 Million users

Feb 7, 2019, 1:00 pm

Varun K.

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If you use Ola’s cab, there’s a piece of good news for you. As One of the biggest ride-sharing platforms in the world, Ola, with a modern insurer under its flagship and industry-first program, offers a unique achievement of providing 20 million in-trip micro-insurance facilities per month to its customers. This service was designed to meet the needs of the customers on the Ola platform, especially in the city and out of town cab riders. Launched in April last year, this offer has received a very encouraging response from customers, helping Ola to maintain its leading leadership position as India’s largest ride-based platform.

At Ola, we are committed to building innovative solutions that can help build a reliable experience for millions who use our platform every single day. This unique micro-insurance program, which is one of our key offerings in insurance has been custom built for Ola users, covering the risk of untoward incidents when on the road.

Over 20 million policies have been availed by customers, every month since our trial phase in April 2018 and, we are thrilled with the phenomenal response we have received across the country. We continue to work on such unique propositions that will transform the mobility experience and beyond, for a billion Indians whom we look to serve.

– Nitin Gupta, CEO at Ola Financial Services (OFS)

Approval for all age groups has now been seen in-trip insurance and in the major metro cities like Bangalore, Delhi, Chennai, and Mumbai, the growth rates are being recorded in the fastest way. It is used to cover the lost baggage, emergency medical expenses, accidental death or disability, including cover for OPD treatment itself, as well as some other specific benefits such as lost laptops or access to accidental damage or outstation urgent need of hotel rides are also well included.

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