Ola surprises all its customers with a very happy announcement of introducing a unique ‘in-trip’ insurance program known as “Chalo Befiker”. This insurance program is aimed at covering damage and losses of baggage or laptops, missed flights, accidental medical expense, ambulance transportation cover, and more of up to Rs. 5,00,000/-
Ola has been the leading taxi application in India since its inception. Because of its localization features and ‘Indianised” approach, the app is almost better to appreciate in India than the industry mammoth that is Uber. Ola revolutionized the concept of ridesharing and traveling together for better pricing. Recently the company announced its tie-up with Acko General Insurance to kick-start this insurance program across 110 cities in India.
A premium of INR 1
The unique thing about this in trip insurance is that it requires the passengers to only pay an INR 1/- premium for all intracity travel. Ola rentals require an Rs. 10/- premium and Ola Outstation bills the premium at Rs. 15/-. The cover against these premiums is valued at RS. 5, 00,000/-
In case the passenger wishes to make a claim, they can do so through the app itself. However, it can also be done through the website of Acko or a mobile app that they offer. This insurance policy isn’t enforced and the passenger can choose to opt out of it as well.
The coverage is as follows:
- Accidental medical expense: Rs. 1,00,00
- hospital daily allowance: Rs. 500
- OPD treatment : Rs. 3,000
- ambulance transportation : 10,000
- Accidental death benefit: Rs. 5,00,000
- Missed flights: Rs. 5,000
- Loss of baggage Rs. 20,000
- And more
Do your customers really want insurance?
Taxi apps and ride-sharing apps are at an all-time high these days. As more and more people are finding its economic value, they are getting drawn into the business. This is probably the biggest reason why all the apps are introducing more and more features to attract more and more users.
But the question to ask is that whether passengers really need such insurance. Because Travel is probably the one thing that is most uncertain in execution and therefore having an insurance cover for any kind of damage during travel can’t hurt. As more users start claiming the insurance the actual usability and ease of access will be revealed.
How to avail the insurance?
The user will have to follow the following flow to activate the OLA insurance program:
Menu > Profile > Ride Insurance
Here the user will see a button that needs to turn to “On”.
After the user turns the insurance option to “ON”, the passenger will be charged insurance premium on every trip until it is turned “OFF”.
As is the case with any business innovation, it is probably time to wait and watch what the other competitive Ridesharing apps and taxi apps pull out of their trick hats.