View this article online: https://www.insurancejournal.com/news/international/2017/08/29/462624.htm
Uber Technologies Inc. rolled out a free insurance program for more than 450,000 drivers registered on its ride-hailing app in India, seeking to attract more drivers.
The San Francisco-based company, which this week chose a new chief executive officer, said on Tuesday that it’s teaming up with with ICICI Lombard General Insurance Co., the South Asian country’s largest private non-life insurer, to cover drivers in case of an accident while using the Uber app, en route or on an Uber trip. The policy includes accidental death and disablement, hospitalization and medical treatment.
Uber has been racing local rival Ola to sign up drivers. Incentives have fallen and commission rates have risen, causing drivers for both companies to take their cabs off the roads in New Delhi, Bangalore and other cities. They are demanding accident insurance, better incentives and reasonable work hours. Ola, which has pledged to add 5 million drivers to its platform by 2022, rolled out a medical benefits program for 500,000 registered drivers, including those for street cabs and three-wheeler autorickshaws, giving them to free health checks and accident insurance at discounted rates.
Uber’s free new program includes death insurance of 500,000 rupees ($7,800), as much as 500,000 rupees for permanent disability, and as much as 200,000 rupees for hospitalization coverage or a 50,000-rupee limit for outpatient treatments.