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Ola introduces 5 lakh worth insurance to all its driver partners
Posted on: 16/Dec/2017 4:29:00 PM
Ola, the renowned cab aggregator has announced that it has partnered with Bajaj Allianz for a detailed insurance program. This is for all the drivers working for the platform. It will provide them a life cover of up to Rs 5 lakh.
Ola mainly competes with Uber, the US-based rival. According to Ola sources, after a lot of recommendations and feedbacks from their driver partners, now, they have come up with this customized insurance program. This, the company believes, would be even more relevant and robust. There are over 9 lakh driver platforms working for them, says Ola sources.
Uber insurance in September 2017
To note, there was a similar insurance program launched by Uber this year in September. This was given to all the 4.5 lakh driver partners. Uber did this in association with ICICI Lombard General Insurance.
Chalo Befikar – what does the insurance cover?
Ola, in its statement, said that the Chalo Befikar insurance will be given to all their driver partners working on the Ola platform. This shall provide up to Rs 5 lakh as insurance cover. There are also daily benefits at times of hospitalization included in the insurance scheme. Business losses, outstanding car loans, children education, etc. are some of the others included in the insurance scheme.
For all its driver partners, the outstanding loan obligation shall be covered too regardless of the loan amount. Children fee of up to Rs 24,000 per annum till class 10, reimbursement of business loss incurred up to Rs 750 per day for about 3 months caused due to temporary disability, etc. are the other inclusions in the insurance.
We spoke to thousands of our drivers all over India to comprehend with their needs for setting up this policy and address their needs.
The Chief Operating Officer of Ola says the program illustrates the way in which it can work closer with the beneficiaries and provide extremely relevant offers. With this insurance, the most important concerns of the driver including his own life, children education, etc. are encompassed.
