NTUC Income's Droplet to cover 60% of Grab fares when it rains

It aims to protect Grab users from unpredictable surge pricing on rainy days.

NTUC Income launched its latest service Droplet which will reimburse up to 60% of fares and cancellation fees for Grab bookings, an announcement revealed.

The service was rolled out in response to surge pricing on ride hailing platforms such as Grab which usually kicks in when it rains.

“To help commuters make informed decisions when purchasing Droplet, real-time weather forecast is made available at their point of purchase on Droplet's website, with premium pricing dynamically pegged to rain forecast,” NTUC Income said.

The service will be using forecasts and data records gathered from the Singapore National Environment Agency.

To use Droplet, users can ‘buy’ Droplet in advance to cover important dates and special events which are forecasted to see rain, in which if it does during the point of pick up Droplet will cover 60% of the fare. To get the reimbursement, users must forward their e-receipt and they can receive their claims through PayNow within three days said NTUC Income.

Users must purchase the insurance service at least a day ahead of their rides, and the maximum benefit that can be claimed per day is $50.

So far Droplet only accepts Grab receipts but it plans to extend its coverage to other transport services, the announcement stated.