Grab extends insurance policy to Uber drivers and riders after acquisition

It is now expecting faster pick-ups due to combined operations.

Grab said it will extend its free personal accident insurance policy to all new interested Uber drivers and riders. This followed Grab's announcement that it will acquire Uber, whilst the latter will get a 27.5% stake of the former.

Grab Singapore head Lim Kell Jay told Singapore Business Review, “Today’s milestone further anchors our commitment to serve our community and advance the interests of our driver-partners and passengers. We have always cared about our customers’ well-being and as a start, we will immediately extend our free personal accident insurance policy to all new interested Uber drivers and riders who choose to be part of our platform. We expect our combined operations to create a better experience for our community of drivers and passengers.”

Moreover, the company is expecting shorter wait-times and faster pick-ups. Lim added, “With a greater concentration of jobs and available drivers, we expect to see shorter wait-times and faster pick-ups. This would mean better productivity for our drivers, and better reliability for our passengers. For passengers, we will continue to improve their travel experience and make their commutes much more rewarding with GrabRewards.”

Meanwhile, the company said that it is not changing its pricing system. A Grab representative also said that for services that are on dynamic fares, such as GrabCar and JustGrab, fares will continue to be calculated based on a base distance, with a dynamic surcharge that will be applied based on factors including demand and supply in that particular point in time, traffic conditions and estimated time taken for the journey.

“This is a fair calculation for drivers as they navigate varying road conditions throughout the day. This means fares are lower in low demand periods – and vice versa – which helps match drivers to passengers efficiently throughout the day,” they said.

Moreover, passengers who choose the taxi options will continue to pay for metered fares that are set by the taxi companies. Fares for other services like GrabHitch or GrabShuttle will remain at the usually fixed amounts.