April 24: Insurance player Acko General Insurance has entered into a partnership with bike taxi booking app Rapido to unveil a trip insurance program which ensures everyday rides run risk-free for commuters. The new insurance product is aimed at providing commuters with insurance cover for the duration of the ride.
Rapido currently has a customer base of more than 20 lakh and has been running over 1,00,000+ daily rides across 25 cities in India. With the company in an expansion mode, Rapido’s tie up with Acko would help take off stress off the roads through an insurance scheme.
The comprehensive cover offered by Acko begins the moment a ride begins and secures the commuter against a multitude of risks. Besides death and disability where the sum insured is up to Rs 5 lakh, this cover also includes loan protection, medical expenses reimbursement and OPD treatment.
On booking a ride, Rapido customers are instantly issued an insurance policy, against which a claim can be made directly via the Rapido app. The deep tech integration of both these companies reduces the time taken to process a claim and also eliminates the tedious process that accompanies the filing of a conventional claim.