JAKARTA (TheInsiderStories) – Malaysian Grab Holdings Inc., ride-hailing operator in Southeast Asia, has collaborated with Hong Kong ZhongAn Technologies International Group Ltd. (HKEX stock code: 6060), to develop digital insurance marketplace in the Southeast Asia (SEA).
Both companies will also partnering with global insurance to design variety of products specifically created for the lifestyle needs of the SEA community. Ming Maa, President of Grab, said the launch of this insurance platform is part of commitment to become the leading everyday super-app in the region.
As part of the cooperation agreement, ZA International, as an entity for foreign business growth formed by ZA Insurance, will bring technical assets to create a platform and insights related to the internet ecosystem in the joint venture company.
Grab will also launch a digital insurance platform in applications and reach millions of customers in providing insurance products tailored to their needs. This platform will be launched in Singapore in the first half of 2019, before being launched in other countries.
As a first step, together with Chubb insurance company, Grab will offer insurance products for driver partners in Singapore to protect them from the risk of losing income due to illness or accident.
Starting last year, Grab not only offered transportation services but has become a super-app in SEA and provides food delivery services, shipping goods, shopping goods, financial services, content and more to users. This year, Grab will expand services to sending money between countries and online health.
Grab operates in 217 cities across eight Southeast Asian countries and offers users safe and affordable transport, food and package delivery, mobile payments and financial services through its Grab mobile app.
As today, the Grab app has been downloaded into over 100 million mobile devices, giving passengers access to over 6.6 million drivers and agents, and the region’s largest land transportation fleet delivering over 6 million rides per day.
Grab offers the widest range of on-demand transport services in the region, in addition to food and package delivery services. Grab’s food delivery service, GrabFood, is the only food delivery company operating across Malaysia, Singapore, Vietnam, Indonesia, Philippines and Thailand.
In Indonesia, throughout 2018, Grab has expanded its services to 222 cities across the archipelago, from 12 cities in early 2017. In line with its business expansion, Grab currently leads the ride-hailing market in Indonesia with 60 percent of market share in the two-wheel segment and 70 percent of market share in the four-wheel segment.
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